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Treasury Auction
2-Year Note
August 25, 2026
C+
Key Metrics
Offered
$69B
Bid-to-Cover
2.60
33th percentile
High Yield
4.204%
Tail
-3.6bp
36th pct (higher=worse)
Indirect
66.0%
73th percentile
Dealer
10.9%
Recent 2-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| July 27, 2026 | 2.66 | -1.5bp | 56.6% | C- |
| June 23, 2026 | 2.64 | -5.1bp | 55.5% | C- |
| May 26, 2026 | 2.64 | —bp | 57.5% | D+ |
| April 27, 2026 | 2.65 | +3.2bp | 56.5% | D |
| March 24, 2026 | 2.44 | +10.6bp | 59.4% | F |