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Treasury Auction

7-Year Note

February 26, 2026

D+

Key Metrics

Offered

$44B

Bid-to-Cover

2.50

29th percentile

High Yield

3.790%

Tail

-3.0bp

35th pct (higher=worse)

Indirect

63.6%

29th percentile

Dealer

10.4%

Recent 7-Year Auctions

DateB/CTailIndirectGrade
January 29, 20262.45-3.2bp66.9%D+
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

7-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History