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Treasury Auction

5-Year Note

October 23, 2025

F

Key Metrics

Offered

$26B

Bid-to-Cover

2.51

th percentile

High Yield

1.182%

Tail

bp

Indirect

62.1%

Dealer

13.5%

Recent 5-Year Auctions

DateB/CTailIndirectGrade
September 24, 20252.34bp59.4%F
August 27, 20252.36bp60.5%F
July 28, 20252.31bp58.3%F
June 25, 20252.36bp64.7%F
May 28, 20252.39bp78.4%F

5-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History