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Treasury Auction

2-Year Note

January 28, 2026

F

Key Metrics

Offered

$30B

Bid-to-Cover

3.16

th percentile

High Yield

Tail

bp

Indirect

65.7%

Dealer

34.3%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
January 26, 20262.75bp64.4%F
December 22, 20252.54bp53.2%F
November 24, 20252.68bp58.1%F
October 29, 20253.63bp63.6%F
October 27, 20252.59bp53.6%F

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History