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Treasury Auction
5-Year Note
February 25, 2026
D
Key Metrics
Offered
$70B
Bid-to-Cover
2.32
8th percentile
High Yield
3.615%
Tail
+0.5bp
33th pct (higher=worse)
Indirect
62.5%
24th percentile
Dealer
12.8%
Recent 5-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| January 27, 2026 | 2.34 | +0.3bp | 60.7% | D+ |
| 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- |