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Treasury Auction

7-Year Note

July 28, 2026

C-

Key Metrics

Offered

$44B

Bid-to-Cover

2.49

22th percentile

High Yield

4.473%

Tail

-4.7bp

18th pct (higher=worse)

Indirect

70.2%

65th percentile

Dealer

13.0%

Recent 7-Year Auctions

DateB/CTailIndirectGrade
June 25, 20262.50-2.0bp57.5%D-
May 28, 20262.52-3.0bp78.4%B-
April 28, 20262.51+3.5bp58.4%F
March 26, 20262.43+10.5bp62.6%F
February 26, 20262.50-3.0bp63.6%D+

7-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History