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Treasury Auction

2-Year Note

January 26, 2026

F

Key Metrics

Offered

$69B

Bid-to-Cover

2.75

th percentile

High Yield

3.580%

Tail

bp

Indirect

64.4%

Dealer

7.3%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
December 22, 20252.54bp53.2%F
November 24, 20252.68bp58.1%F
October 29, 20253.63bp63.6%F
October 27, 20252.59bp53.6%F
September 23, 20252.51bp57.8%F

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History