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Treasury Auction
5-Year Note
January 27, 2026
D+
Key Metrics
Offered
$70B
Bid-to-Cover
2.34
13th percentile
High Yield
3.823%
Tail
+0.3bp
30th pct (higher=worse)
Indirect
60.7%
17th percentile
Dealer
10.8%
Recent 5-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| December 23, 2025 | 2.35 | +3.7bp | 59.5% | D- |
| November 25, 2025 | 2.41 | -4.8bp | 61.4% | C+ |
| October 27, 2025 | 2.38 | +1.5bp | 66.8% | C |
| September 24, 2025 | 2.34 | +3.0bp | 59.4% | D- |
| August 27, 2025 | 2.36 | -2.6bp | 60.5% | D+ |