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Treasury Auction
2-Year Note
January 26, 2026
C+
Key Metrics
Offered
$69B
Bid-to-Cover
2.75
70th percentile
High Yield
3.580%
Tail
-2.0bp
57th pct (higher=worse)
Indirect
64.4%
50th percentile
Dealer
7.3%
Recent 2-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| December 22, 2025 | 2.54 | +1.9bp | 53.2% | F |
| 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+ |