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Treasury Auction

2-Year Note

July 28, 2025

F

Key Metrics

Offered

$69B

Bid-to-Cover

2.62

th percentile

High Yield

3.920%

Tail

bp

Indirect

55.3%

Dealer

10.3%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
June 24, 20252.58bp60.5%F
May 27, 20252.57bp63.3%F
April 23, 20252.69bp48.6%F
April 22, 20252.52bp56.2%F
March 25, 20252.66bp75.8%F

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History