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Treasury Auction

2-Year Note

May 26, 2026

D+

Key Metrics

Offered

$69B

Bid-to-Cover

2.64

42th percentile

High Yield

4.071%

Tail

—bp

Indirect

57.5%

26th percentile

Dealer

12.3%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
April 27, 20262.65+3.2bp56.5%D
March 24, 20262.44+10.6bp59.4%F
February 24, 20262.63+2.5bp55.9%D
January 28, 20263.16—bp65.7%C+
January 26, 20262.75-2.0bp64.4%C+

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History