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Treasury Auction

5-Year Note

July 28, 2025

F

Key Metrics

Offered

$70B

Bid-to-Cover

2.31

th percentile

High Yield

3.983%

Tail

bp

Indirect

58.3%

Dealer

12.2%

Recent 5-Year Auctions

DateB/CTailIndirectGrade
June 25, 20252.36bp64.7%F
May 28, 20252.39bp78.4%F
April 23, 20252.41bp64.0%F
April 17, 20252.28bp64.2%F
March 26, 20252.33bp75.8%F

5-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History