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Treasury Auction

7-Year Note

January 29, 2026

D+

Key Metrics

Offered

$44B

Bid-to-Cover

2.45

9th percentile

High Yield

4.018%

Tail

-3.2bp

32th pct (higher=worse)

Indirect

66.9%

43th percentile

Dealer

10.9%

Recent 7-Year Auctions

DateB/CTailIndirectGrade
December 24, 20252.51-1.0bp59.0%D+
November 26, 20252.46+1.1bp56.6%F
October 28, 20252.460.0bp59.0%F
September 25, 20252.40+4.3bp56.4%F
August 28, 20252.49-2.5bp77.5%C

7-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History