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Treasury Auction
2-Year Note
December 22, 2025
F
Key Metrics
Offered
$69B
Bid-to-Cover
2.54
16th percentile
High Yield
3.499%
Tail
+1.9bp
76th pct (higher=worse)
Indirect
53.2%
3th percentile
Dealer
12.7%
Recent 2-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| November 24, 2025 | 2.68 | -2.1bp | 58.1% | C- |
| October 29, 2025 | 3.63 | —bp | 63.6% | C+ |
| October 27, 2025 | 2.59 | +2.4bp | 53.6% | F |
| September 23, 2025 | 2.51 | -3.9bp | 57.8% | D+ |
| August 26, 2025 | 2.69 | -8.9bp | 57.1% | C+ |