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Treasury Auction

2-Year Note

June 23, 2026

C-

Key Metrics

Offered

$69B

Bid-to-Cover

2.64

39th percentile

High Yield

4.189%

Tail

-5.1bp

27th pct (higher=worse)

Indirect

55.5%

13th percentile

Dealer

10.2%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
May 26, 20262.64—bp57.5%D+
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+

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History