Upcoming US Treasury auction - 26 week bill 'fresh'

18 April 2025 - Written by ML

Schedule

The table provides details of upcoming US Treasury security auctions. Details on each auction can be accessed on the Treasury website(U.S. Department of the Treasury, 2025).

Upcoming Treasury Auctions
Summary of Key Auction Details
Auction Date Issue Date Maturity Date Amount ($B) Security Type Term Int. Freq. Notes
April 21, 2025 April 24, 2025 July 24, 2025 76 B Bill 13-Week N/A Reopening
April 21, 2025 April 24, 2025 October 23, 2025 68 B Bill 26-Week N/A None
April 22, 2025 April 30, 2025 April 30, 2027 69 B Note 2-Year Semi None
April 22, 2025 April 24, 2025 June 5, 2025 70 B Bill 6-Week N/A Reopening
April 23, 2025 April 30, 2025 April 30, 2027 30 B Note 2-Year Qtr Floating
April 23, 2025 April 30, 2025 April 30, 2030 70 B Note 5-Year Semi None
April 24, 2025 April 30, 2025 April 30, 2032 44 B Note 7-Year Semi None
Source: U.S. Treasury, extracted April 17, 2025

Past auction data

26 week ‘fresh’ bill

Summary of fresh1 bills issued by year.

Annual summary

Annual Auction Summary
All figures annual medians, allocations in %
Year Total Accepted (B) Median Bid-to-Cover
Allocation (%)
Primary Dealer Direct Bidder Indirect Bidder FIMA Non‑comp Treasury Retail Other Non‑comp SOMA
2018 1,668 3.1 45% 4% 47% 1% 1% 1% 0%
2019 1,505 3.0 48% 3% 42% 1% 1% 1% 0%
2020 2,040 3.0 40% 4% 45% 1% 0% 0% 8%
2021 2,205 3.2 37% 4% 48% 1% 0% 0% 11%
2022 1,973 2.9 39% 4% 42% 1% 1% 1% 11%
2023 2,399 2.9 31% 3% 54% 0% 2% 2% 8%
2024 2,970 3.0 26% 6% 60% 0% 1% 2% 6%
2025 803 2.9 24% 9% 58% 0% 1% 1% 5%
Allocation columns – Primary Dealer (own house account), Direct Bidder (own house account), Indirect Bidder (including foreign & intl monetary authorities), FIMA Noncompetitive (foreign & intl monetary authorities), Treasury Retail Noncompetitive, Other Noncompetitive, SOMA (managed by Federal Reserve)

Auction result by Year

2018 Auction Results

Treasury Auction Results 2018
Summary of Key Auction Metrics for 2018
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
January 2, 2018 January 4, 2018 July 5, 2018 3.0 99.204 42 B
January 8, 2018 January 11, 2018 July 12, 2018 3.1 99.204 42 B
January 22, 2018 January 25, 2018 July 26, 2018 3.0 99.184 42 B
January 29, 2018 February 1, 2018 August 2, 2018 3.2 99.178 42 B
February 5, 2018 February 8, 2018 August 9, 2018 2.9 99.166 42 B
February 20, 2018 February 22, 2018 August 23, 2018 3.1 99.080 45 B
February 26, 2018 March 1, 2018 August 30, 2018 3.1 99.075 45 B
March 5, 2018 March 8, 2018 September 6, 2018 3.2 99.075 45 B
March 19, 2018 March 22, 2018 September 20, 2018 2.9 99.014 45 B
March 26, 2018 March 29, 2018 September 27, 2018 3.1 99.042 45 B
April 2, 2018 April 5, 2018 October 4, 2018 3.1 99.037 42 B
April 16, 2018 April 19, 2018 October 18, 2018 3.1 99.017 42 B
April 23, 2018 April 26, 2018 October 25, 2018 3.3 98.996 42 B
April 30, 2018 May 3, 2018 November 1, 2018 3.2 98.994 42 B
May 14, 2018 May 17, 2018 November 15, 2018 3.0 98.971 42 B
May 21, 2018 May 24, 2018 November 23, 2018 3.2 98.943 42 B
May 29, 2018 May 31, 2018 November 29, 2018 3.1 98.974 42 B
June 11, 2018 June 14, 2018 December 13, 2018 3.6 98.951 42 B
June 18, 2018 June 21, 2018 December 20, 2018 2.8 98.951 42 B
June 25, 2018 June 28, 2018 December 27, 2018 3.0 98.946 42 B
July 9, 2018 July 12, 2018 January 10, 2019 2.8 98.938 42 B
July 16, 2018 July 19, 2018 January 17, 2019 3.0 98.918 45 B
July 23, 2018 July 26, 2018 January 24, 2019 2.9 98.918 45 B
August 6, 2018 August 9, 2018 February 7, 2019 2.7 98.898 45 B
August 13, 2018 August 16, 2018 February 14, 2019 3.2 98.898 45 B
August 20, 2018 August 23, 2018 February 21, 2019 3.1 98.895 45 B
September 4, 2018 September 6, 2018 March 7, 2019 3.0 98.868 42 B
September 10, 2018 September 13, 2018 March 14, 2019 3.1 98.855 42 B
September 17, 2018 September 20, 2018 March 21, 2019 3.1 98.842 42 B
October 1, 2018 October 4, 2018 April 4, 2019 2.9 98.820 42 B
October 9, 2018 October 11, 2018 April 11, 2019 2.8 98.797 42 B
October 15, 2018 October 18, 2018 April 18, 2019 2.9 98.779 39 B
October 29, 2018 November 1, 2018 May 2, 2019 3.0 98.772 39 B
November 5, 2018 November 8, 2018 May 9, 2019 3.1 98.761 39 B
November 13, 2018 November 15, 2018 May 16, 2019 3.3 98.754 39 B
November 26, 2018 November 29, 2018 May 30, 2019 3.6 98.749 36 B
December 3, 2018 December 6, 2018 June 6, 2019 3.0 98.739 36 B
December 10, 2018 December 13, 2018 June 13, 2019 3.1 98.746 36 B
December 24, 2018 December 27, 2018 June 27, 2019 3.0 98.746 36 B
December 31, 2018 January 3, 2019 July 5, 2019 2.9 98.727 36 B
Source: U.S. Treasury, extracted April 17 2025

2019 Auction Results

Treasury Auction Results 2019
Summary of Key Auction Metrics for 2019
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
January 7, 2019 January 10, 2019 July 11, 2019 3.0 98.751 36 B
January 22, 2019 January 24, 2019 July 25, 2019 3.1 98.761 39 B
January 28, 2019 January 31, 2019 August 1, 2019 3.1 98.761 39 B
February 4, 2019 February 7, 2019 August 8, 2019 2.7 98.766 39 B
February 19, 2019 February 21, 2019 August 22, 2019 3.1 98.759 39 B
February 25, 2019 February 28, 2019 August 29, 2019 3.2 98.759 39 B
March 4, 2019 March 7, 2019 September 5, 2019 3.0 98.756 39 B
March 18, 2019 March 21, 2019 September 19, 2019 2.9 98.761 39 B
March 25, 2019 March 28, 2019 September 26, 2019 2.9 98.779 39 B
April 1, 2019 April 4, 2019 October 3, 2019 2.9 98.797 39 B
April 15, 2019 April 18, 2019 October 17, 2019 3.1 98.792 36 B
April 22, 2019 April 25, 2019 October 24, 2019 3.3 98.787 36 B
April 29, 2019 May 2, 2019 October 31, 2019 3.0 98.789 36 B
May 13, 2019 May 16, 2019 November 14, 2019 3.3 98.809 36 B
May 20, 2019 May 23, 2019 November 21, 2019 2.8 98.817 36 B
May 28, 2019 May 30, 2019 November 29, 2019 2.9 98.821 36 B
June 10, 2019 June 13, 2019 December 12, 2019 3.0 98.918 36 B
June 17, 2019 June 20, 2019 December 19, 2019 2.9 98.923 36 B
June 24, 2019 June 27, 2019 December 26, 2019 2.7 98.974 36 B
July 8, 2019 July 11, 2019 January 9, 2020 3.0 98.951 36 B
July 15, 2019 July 18, 2019 January 16, 2020 3.2 98.984 36 B
July 22, 2019 July 25, 2019 January 23, 2020 2.7 98.984 36 B
August 5, 2019 August 8, 2019 February 6, 2020 2.3 99.014 39 B
August 12, 2019 August 15, 2019 February 13, 2020 3.1 99.044 42 B
August 19, 2019 August 22, 2019 February 20, 2020 2.9 99.070 42 B
September 3, 2019 September 5, 2019 March 5, 2020 3.1 99.077 42 B
September 9, 2019 September 12, 2019 March 12, 2020 3.0 99.077 42 B
September 16, 2019 September 19, 2019 March 19, 2020 2.7 99.055 42 B
September 30, 2019 October 3, 2019 April 2, 2020 2.8 99.093 42 B
October 7, 2019 October 10, 2019 April 9, 2020 2.5 99.146 42 B
October 15, 2019 October 17, 2019 April 16, 2020 3.1 99.181 42 B
October 28, 2019 October 31, 2019 April 30, 2020 3.2 99.186 42 B
November 4, 2019 November 7, 2019 May 7, 2020 2.7 99.224 42 B
November 12, 2019 November 14, 2019 May 14, 2020 3.0 99.216 43 B
November 25, 2019 November 29, 2019 May 28, 2020 2.7 99.206 39 B
December 2, 2019 December 5, 2019 June 4, 2020 3.1 99.209 36 B
December 9, 2019 December 12, 2019 June 11, 2020 3.0 99.232 36 B
December 23, 2019 December 26, 2019 June 25, 2020 3.0 99.206 37 B
December 30, 2019 January 2, 2020 July 2, 2020 2.8 99.211 36 B
Source: U.S. Treasury, extracted April 17 2025

2020 Auction Results

Treasury Auction Results 2020
Summary of Key Auction Metrics for 2020
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
January 6, 2020 January 9, 2020 July 9, 2020 3.1 99.232 37 B
January 21, 2020 January 23, 2020 July 23, 2020 3.2 99.232 37 B
January 27, 2020 January 30, 2020 July 30, 2020 2.8 99.224 40 B
February 3, 2020 February 6, 2020 August 6, 2020 2.8 99.232 40 B
February 18, 2020 February 20, 2020 August 20, 2020 3.1 99.237 40 B
February 24, 2020 February 27, 2020 August 27, 2020 3.0 99.272 40 B
March 2, 2020 March 5, 2020 September 3, 2020 3.1 99.489 41 B
March 16, 2020 March 19, 2020 September 17, 2020 2.8 99.848 37 B
March 23, 2020 March 26, 2020 September 24, 2020 2.5 99.960 41 B
March 30, 2020 April 2, 2020 October 1, 2020 2.7 99.949 44 B
April 13, 2020 April 16, 2020 October 15, 2020 3.1 99.853 52 B
April 20, 2020 April 23, 2020 October 22, 2020 3.2 99.927 53 B
April 27, 2020 April 30, 2020 October 29, 2020 3.2 99.924 51 B
May 11, 2020 May 14, 2020 November 12, 2020 3.0 99.922 59 B
May 18, 2020 May 21, 2020 November 19, 2020 3.1 99.924 61 B
May 26, 2020 May 28, 2020 November 27, 2020 3.0 99.919 58 B
June 8, 2020 June 11, 2020 December 10, 2020 3.0 99.906 57 B
June 15, 2020 June 18, 2020 December 17, 2020 2.9 99.906 60 B
June 22, 2020 June 25, 2020 December 24, 2020 2.9 99.912 56 B
July 6, 2020 July 9, 2020 January 7, 2021 2.8 99.917 56 B
July 13, 2020 July 16, 2020 January 14, 2021 3.2 99.927 58 B
July 20, 2020 July 23, 2020 January 21, 2021 3.0 99.934 59 B
August 3, 2020 August 6, 2020 February 4, 2021 2.9 99.947 57 B
August 10, 2020 August 13, 2020 February 11, 2021 3.0 99.939 57 B
August 17, 2020 August 20, 2020 February 18, 2021 2.9 99.939 58 B
August 31, 2020 September 3, 2020 March 4, 2021 3.2 99.942 57 B
September 8, 2020 September 10, 2020 March 11, 2021 2.9 99.937 56 B
September 14, 2020 September 17, 2020 March 18, 2021 3.3 99.939 55 B
September 28, 2020 October 1, 2020 April 1, 2021 3.1 99.947 55 B
October 5, 2020 October 8, 2020 April 8, 2021 2.9 99.944 59 B
October 13, 2020 October 15, 2020 April 15, 2021 3.0 99.942 57 B
October 26, 2020 October 29, 2020 April 29, 2021 3.5 99.944 56 B
November 2, 2020 November 5, 2020 May 6, 2021 3.0 99.944 59 B
November 9, 2020 November 12, 2020 May 13, 2021 3.0 99.944 57 B
November 23, 2020 November 27, 2020 May 27, 2021 3.6 99.955 55 B
November 30, 2020 December 3, 2020 June 3, 2021 3.2 99.954 58 B
December 7, 2020 December 10, 2020 June 10, 2021 3.3 99.954 55 B
December 21, 2020 December 24, 2020 June 24, 2021 3.1 99.954 53 B
December 28, 2020 December 31, 2020 July 1, 2021 3.1 99.949 60 B
Source: U.S. Treasury, extracted April 17 2025

2021 Auction Results

Treasury Auction Results 2021
Summary of Key Auction Metrics for 2021
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
January 4, 2021 January 7, 2021 July 8, 2021 3.2 99.954 58 B
January 19, 2021 January 21, 2021 July 22, 2021 3.1 99.952 58 B
January 25, 2021 January 28, 2021 July 29, 2021 3.5 99.957 58 B
February 1, 2021 February 4, 2021 August 5, 2021 3.4 99.965 58 B
February 16, 2021 February 18, 2021 August 19, 2021 3.0 99.970 58 B
February 22, 2021 February 25, 2021 August 26, 2021 2.8 99.977 57 B
March 1, 2021 March 4, 2021 September 2, 2021 2.9 99.970 58 B
March 15, 2021 March 18, 2021 September 16, 2021 2.9 99.972 59 B
March 22, 2021 March 25, 2021 September 23, 2021 3.0 99.980 56 B
March 29, 2021 April 1, 2021 September 30, 2021 2.9 99.980 60 B
April 12, 2021 April 15, 2021 October 14, 2021 3.4 99.980 60 B
April 19, 2021 April 22, 2021 October 21, 2021 3.2 99.980 60 B
April 26, 2021 April 29, 2021 October 28, 2021 3.3 99.982 60 B
May 10, 2021 May 13, 2021 November 12, 2021 3.3 99.982 60 B
May 17, 2021 May 20, 2021 November 18, 2021 3.3 99.985 61 B
May 24, 2021 May 27, 2021 November 26, 2021 2.8 99.985 59 B
June 7, 2021 June 10, 2021 December 9, 2021 3.3 99.980 59 B
June 14, 2021 June 17, 2021 December 16, 2021 3.3 99.980 59 B
June 21, 2021 June 24, 2021 December 23, 2021 3.6 99.972 56 B
July 6, 2021 July 8, 2021 January 6, 2022 3.6 99.975 61 B
July 12, 2021 July 15, 2021 January 13, 2022 3.7 99.975 57 B
July 19, 2021 July 22, 2021 January 20, 2022 3.5 99.975 58 B
August 2, 2021 August 5, 2021 February 3, 2022 3.2 99.972 58 B
August 9, 2021 August 12, 2021 February 10, 2022 3.6 99.975 57 B
August 16, 2021 August 19, 2021 February 17, 2022 2.9 99.975 55 B
August 30, 2021 September 2, 2021 March 3, 2022 3.2 99.972 55 B
September 7, 2021 September 9, 2021 March 10, 2022 3.8 99.975 53 B
September 13, 2021 September 16, 2021 March 17, 2022 3.8 99.975 50 B
September 27, 2021 September 30, 2021 March 31, 2022 3.2 99.975 49 B
October 4, 2021 October 7, 2021 April 7, 2022 3.3 99.972 49 B
October 12, 2021 October 14, 2021 April 14, 2022 4.0 99.972 48 B
October 25, 2021 October 28, 2021 April 28, 2022 3.3 99.970 54 B
November 1, 2021 November 4, 2021 May 5, 2022 2.9 99.967 55 B
November 8, 2021 November 12, 2021 May 12, 2022 3.3 99.967 54 B
November 22, 2021 November 26, 2021 May 26, 2022 2.9 99.965 56 B
November 29, 2021 December 2, 2021 June 2, 2022 3.0 99.954 58 B
December 6, 2021 December 9, 2021 June 9, 2022 2.9 99.947 56 B
December 20, 2021 December 23, 2021 June 23, 2022 2.8 99.919 53 B
December 27, 2021 December 30, 2021 June 30, 2022 2.9 99.894 58 B
Source: U.S. Treasury, extracted April 17 2025

2022 Auction Results

Treasury Auction Results 2022
Summary of Key Auction Metrics for 2022
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
January 3, 2022 January 6, 2022 July 7, 2022 3.2 99.889 57 B
January 18, 2022 January 20, 2022 July 21, 2022 2.7 99.815 57 B
January 24, 2022 January 27, 2022 July 28, 2022 3.1 99.808 57 B
January 31, 2022 February 3, 2022 August 4, 2022 2.7 99.747 58 B
February 14, 2022 February 17, 2022 August 18, 2022 3.0 99.611 57 B
February 22, 2022 February 24, 2022 August 25, 2022 2.8 99.641 56 B
February 28, 2022 March 3, 2022 September 1, 2022 3.1 99.661 58 B
March 14, 2022 March 17, 2022 September 15, 2022 3.1 99.585 56 B
March 21, 2022 March 24, 2022 September 22, 2022 3.2 99.560 50 B
March 28, 2022 March 31, 2022 September 29, 2022 3.0 99.469 55 B
April 11, 2022 April 14, 2022 October 13, 2022 3.3 99.383 54 B
April 18, 2022 April 21, 2022 October 20, 2022 3.3 99.368 54 B
April 25, 2022 April 28, 2022 October 27, 2022 3.0 99.307 51 B
May 9, 2022 May 12, 2022 November 10, 2022 2.7 99.300 48 B
May 16, 2022 May 19, 2022 November 17, 2022 3.1 99.247 48 B
May 23, 2022 May 26, 2022 November 25, 2022 3.1 99.222 47 B
June 6, 2022 June 9, 2022 December 8, 2022 2.9 99.135 47 B
June 13, 2022 June 16, 2022 December 15, 2022 3.3 98.908 47 B
June 21, 2022 June 23, 2022 December 22, 2022 2.4 98.792 44 B
July 5, 2022 July 7, 2022 January 5, 2023 2.6 98.736 49 B
July 11, 2022 July 14, 2022 January 12, 2023 2.7 98.643 48 B
July 18, 2022 July 21, 2022 January 19, 2023 2.6 98.529 48 B
August 1, 2022 August 4, 2022 February 2, 2023 2.9 98.559 49 B
August 8, 2022 August 11, 2022 February 9, 2023 3.1 98.463 47 B
August 15, 2022 August 18, 2022 February 16, 2023 2.8 98.473 48 B
August 29, 2022 September 1, 2022 March 2, 2023 2.9 98.365 47 B
September 6, 2022 September 8, 2022 March 9, 2023 3.1 98.322 45 B
September 12, 2022 September 15, 2022 March 16, 2023 3.0 98.248 46 B
September 26, 2022 September 29, 2022 March 30, 2023 2.7 98.054 47 B
October 3, 2022 October 6, 2022 April 6, 2023 2.6 98.054 47 B
October 11, 2022 October 13, 2022 April 13, 2023 2.9 97.963 50 B
October 24, 2022 October 27, 2022 April 27, 2023 2.6 97.781 50 B
October 31, 2022 November 3, 2022 May 4, 2023 3.0 97.755 52 B
November 7, 2022 November 10, 2022 May 11, 2023 2.9 97.730 50 B
November 21, 2022 November 25, 2022 May 25, 2023 3.0 97.727 50 B
November 28, 2022 December 1, 2022 June 1, 2023 2.9 97.700 51 B
December 5, 2022 December 8, 2022 June 8, 2023 2.6 97.690 49 B
December 19, 2022 December 22, 2022 June 22, 2023 2.9 97.700 47 B
December 27, 2022 December 29, 2022 June 29, 2023 2.6 97.674 51 B
Source: U.S. Treasury, extracted April 17 2025

2023 Auction Results

Treasury Auction Results 2023
Summary of Key Auction Metrics for 2023
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
January 3, 2023 January 5, 2023 July 6, 2023 2.8 97.657 51 B
January 17, 2023 January 19, 2023 July 20, 2023 2.7 97.631 53 B
January 23, 2023 January 26, 2023 July 27, 2023 2.8 97.631 53 B
January 30, 2023 February 2, 2023 August 3, 2023 2.9 97.634 55 B
February 13, 2023 February 16, 2023 August 17, 2023 2.5 97.553 54 B
February 21, 2023 February 23, 2023 August 24, 2023 2.7 97.515 53 B
February 27, 2023 March 2, 2023 August 31, 2023 2.8 97.503 53 B
March 13, 2023 March 16, 2023 September 14, 2023 2.3 97.624 51 B
March 20, 2023 March 23, 2023 September 21, 2023 2.9 97.664 49 B
March 27, 2023 March 30, 2023 September 28, 2023 2.8 97.649 53 B
April 10, 2023 April 13, 2023 October 12, 2023 2.7 97.576 53 B
April 17, 2023 April 20, 2023 October 19, 2023 2.8 97.538 54 B
April 24, 2023 April 27, 2023 October 26, 2023 2.8 97.553 53 B
May 8, 2023 May 11, 2023 November 9, 2023 2.8 97.528 53 B
May 15, 2023 May 18, 2023 November 16, 2023 2.6 97.482 58 B
May 22, 2023 May 25, 2023 November 24, 2023 3.0 97.372 60 B
June 5, 2023 June 8, 2023 December 7, 2023 3.1 97.346 61 B
June 12, 2023 June 15, 2023 December 14, 2023 3.0 97.394 61 B
June 20, 2023 June 22, 2023 December 21, 2023 2.6 97.386 59 B
July 3, 2023 July 6, 2023 January 4, 2024 3.0 97.341 63 B
July 10, 2023 July 13, 2023 January 11, 2024 2.9 97.336 63 B
July 17, 2023 July 20, 2023 January 18, 2024 3.0 97.346 63 B
July 31, 2023 August 3, 2023 February 1, 2024 3.0 97.336 65 B
August 7, 2023 August 10, 2023 February 8, 2024 2.9 97.338 66 B
August 14, 2023 August 17, 2023 February 15, 2024 2.8 97.326 68 B
August 28, 2023 August 31, 2023 February 29, 2024 3.2 97.295 67 B
September 5, 2023 September 7, 2023 March 7, 2024 3.0 97.321 64 B
September 11, 2023 September 14, 2023 March 14, 2024 3.1 97.321 64 B
September 25, 2023 September 28, 2023 March 28, 2024 2.9 97.313 64 B
October 2, 2023 October 5, 2023 April 4, 2024 2.9 97.300 69 B
October 10, 2023 October 12, 2023 April 11, 2024 2.8 97.310 70 B
October 23, 2023 October 26, 2023 April 25, 2024 2.7 97.308 72 B
October 30, 2023 November 2, 2023 May 2, 2024 2.9 97.310 75 B
November 6, 2023 November 9, 2023 May 9, 2024 2.9 97.341 74 B
November 20, 2023 November 24, 2023 May 23, 2024 2.5 97.370 73 B
November 27, 2023 November 30, 2023 May 30, 2024 3.0 97.351 73 B
December 4, 2023 December 7, 2023 June 6, 2024 2.7 97.376 69 B
December 18, 2023 December 21, 2023 June 20, 2024 3.1 97.406 69 B
December 26, 2023 December 28, 2023 June 27, 2024 3.2 97.432 70 B
Source: U.S. Treasury, extracted April 17 2025

2024 Auction Results

Treasury Auction Results 2024
Summary of Key Auction Metrics for 2024
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
January 2, 2024 January 4, 2024 July 5, 2024 3.1 97.435 72 B
January 16, 2024 January 18, 2024 July 18, 2024 3.2 97.485 72 B
January 22, 2024 January 25, 2024 July 25, 2024 2.9 97.462 74 B
January 29, 2024 February 1, 2024 August 1, 2024 3.1 97.480 77 B
February 12, 2024 February 15, 2024 August 15, 2024 2.8 97.439 76 B
February 20, 2024 February 22, 2024 August 22, 2024 3.0 97.422 75 B
February 26, 2024 February 29, 2024 August 29, 2024 2.9 97.406 75 B
March 11, 2024 March 14, 2024 September 12, 2024 3.0 97.422 70 B
March 18, 2024 March 21, 2024 September 19, 2024 2.8 97.406 70 B
March 25, 2024 March 28, 2024 September 26, 2024 2.7 97.419 70 B
April 8, 2024 April 11, 2024 October 10, 2024 3.0 97.412 74 B
April 15, 2024 April 18, 2024 October 17, 2024 2.8 97.394 75 B
April 22, 2024 April 25, 2024 October 24, 2024 2.8 97.391 74 B
May 6, 2024 May 9, 2024 November 7, 2024 2.9 97.394 76 B
May 13, 2024 May 16, 2024 November 14, 2024 3.0 97.389 77 B
May 20, 2024 May 23, 2024 November 21, 2024 2.9 97.391 76 B
June 3, 2024 June 6, 2024 December 5, 2024 3.0 97.394 71 B
June 10, 2024 June 13, 2024 December 12, 2024 3.1 97.389 71 B
June 17, 2024 June 20, 2024 December 19, 2024 2.8 97.396 70 B
July 1, 2024 July 5, 2024 January 2, 2025 3.0 97.428 74 B
July 8, 2024 July 11, 2024 January 9, 2025 3.0 97.432 74 B
July 15, 2024 July 18, 2024 January 16, 2025 2.8 97.480 74 B
July 29, 2024 August 1, 2024 January 30, 2025 3.0 97.508 77 B
August 5, 2024 August 8, 2024 February 6, 2025 2.7 97.624 76 B
August 12, 2024 August 15, 2024 February 13, 2025 2.7 97.576 76 B
August 26, 2024 August 29, 2024 February 27, 2025 3.0 97.631 75 B
September 3, 2024 September 5, 2024 March 6, 2025 3.1 97.652 71 B
September 9, 2024 September 12, 2024 March 13, 2025 3.0 97.710 71 B
September 23, 2024 September 26, 2024 March 27, 2025 3.4 97.841 71 B
September 30, 2024 October 3, 2024 April 3, 2025 3.3 97.869 76 B
October 7, 2024 October 10, 2024 April 10, 2025 3.4 97.824 76 B
October 21, 2024 October 24, 2024 April 24, 2025 2.9 97.821 76 B
October 28, 2024 October 31, 2024 May 1, 2025 3.2 97.813 79 B
November 4, 2024 November 7, 2024 May 8, 2025 3.0 97.846 78 B
November 18, 2024 November 21, 2024 May 22, 2025 2.9 97.821 77 B
November 25, 2024 November 29, 2024 May 29, 2025 2.7 97.818 77 B
December 2, 2024 December 5, 2024 June 5, 2025 3.0 97.824 73 B
December 16, 2024 December 19, 2024 June 20, 2025 3.3 97.885 72 B
December 23, 2024 December 26, 2024 June 26, 2025 2.9 97.892 73 B
December 30, 2024 January 2, 2025 July 3, 2025 3.0 97.910 76 B
Source: U.S. Treasury, extracted April 17 2025

2025 Auction Results

Treasury Auction Results 2025
Summary of Key Auction Metrics for 2025
Auction Date Issue Date Maturity Date Bid‑to‑Cover Ratio Price per 100 Accepted ($B)
April 21, 2025 April 24, 2025 October 23, 2025 NA NA NA
April 14, 2025 April 17, 2025 October 16, 2025 2.8 97.947 71 B
April 7, 2025 April 10, 2025 October 9, 2025 2.8 97.978 72 B
March 24, 2025 March 27, 2025 September 25, 2025 3.3 97.935 69 B
March 17, 2025 March 20, 2025 September 18, 2025 3.0 97.927 68 B
March 10, 2025 March 13, 2025 September 11, 2025 3.0 97.940 69 B
February 24, 2025 February 27, 2025 August 28, 2025 3.0 97.887 71 B
February 18, 2025 February 20, 2025 August 21, 2025 2.6 97.867 74 B
February 10, 2025 February 13, 2025 August 14, 2025 2.9 97.884 78 B
January 27, 2025 January 30, 2025 July 31, 2025 2.9 97.907 79 B
January 21, 2025 January 23, 2025 July 24, 2025 3.0 97.894 76 B
January 13, 2025 January 16, 2025 July 17, 2025 2.8 97.887 76 B
Source: U.S. Treasury, extracted April 17 2025

Statistics by Year

2018 Stats by Year

Auction Statistics
Key Metrics Summary for 2018 • Total Issues: 40
Metric Min Max Average Median
Total Accepted (B) 36B 45B 42B 42B
bidToCoverRatio 2.66 3.61 3.06 3.06
pricePer100 98.73 99.20 98.94 98.94
highDiscountRate 1.57 2.50 2.10 2.09
highInvestmentRate 1.61 2.57 2.16 2.14
Primary Dealer (own house account) 0.28 0.62 0.46 0.45
Direct Bidder (own house account) 0.01 0.12 0.04 0.04
Indirect Bidder (including foreign & intl monetary authorities) 0.34 0.68 0.47 0.47
FIMA Noncompetitive (foreign & intl monetary authorities) 0.01 0.03 0.01 0.01
SOMA (managed by Federal Reserve) 0.00 0.00 0.00 0.00
Treasury Retail Noncompetitive 0.01 0.01 0.01 0.01
Other Noncompetitive 0.01 0.01 0.01 0.01
Source: U.S. Treasury, extracted April 17, 2025

2019 Stats by Year

Auction Statistics
Key Metrics Summary for 2019 • Total Issues: 39
Metric Min Max Average Median
Total Accepted (B) 36B 43B 39B 39B
bidToCoverRatio 2.31 3.26 2.94 2.98
pricePer100 98.75 99.23 98.97 98.97
highDiscountRate 1.52 2.47 2.05 2.03
highInvestmentRate 1.56 2.54 2.10 2.08
Primary Dealer (own house account) 0.36 0.79 0.51 0.48
Direct Bidder (own house account) 0.01 0.11 0.04 0.03
Indirect Bidder (including foreign & intl monetary authorities) 0.17 0.56 0.42 0.42
FIMA Noncompetitive (foreign & intl monetary authorities) 0.00 0.03 0.01 0.01
SOMA (managed by Federal Reserve) 0.00 0.02 0.00 0.00
Treasury Retail Noncompetitive 0.01 0.01 0.01 0.01
Other Noncompetitive 0.01 0.02 0.01 0.01
Source: U.S. Treasury, extracted April 17, 2025

2020 Stats by Year

Auction Statistics
Key Metrics Summary for 2020 • Total Issues: 39
Metric Min Max Average Median
Total Accepted (B) 37B 61B 52B 56B
bidToCoverRatio 2.50 3.57 3.04 3.02
pricePer100 99.22 99.96 99.81 99.93
highDiscountRate 0.08 1.53 0.37 0.13
highInvestmentRate 0.08 1.57 0.38 0.13
Primary Dealer (own house account) 0.28 0.66 0.42 0.40
Direct Bidder (own house account) 0.01 0.12 0.04 0.04
Indirect Bidder (including foreign & intl monetary authorities) 0.19 0.58 0.44 0.45
FIMA Noncompetitive (foreign & intl monetary authorities) 0.00 0.03 0.01 0.01
SOMA (managed by Federal Reserve) 0.01 0.14 0.08 0.08
Treasury Retail Noncompetitive 0.00 0.01 0.01 0.00
Other Noncompetitive 0.00 0.01 0.01 0.00
Source: U.S. Treasury, extracted April 17, 2025

2021 Stats by Year

Auction Statistics
Key Metrics Summary for 2021 • Total Issues: 39
Metric Min Max Average Median
Total Accepted (B) 48B 61B 57B 58B
bidToCoverRatio 2.78 3.99 3.24 3.25
pricePer100 99.89 99.98 99.97 99.97
highDiscountRate 0.03 0.21 0.06 0.06
highInvestmentRate 0.03 0.21 0.06 0.06
Primary Dealer (own house account) 0.24 0.52 0.37 0.37
Direct Bidder (own house account) 0.02 0.09 0.04 0.04
Indirect Bidder (including foreign & intl monetary authorities) 0.30 0.64 0.47 0.48
FIMA Noncompetitive (foreign & intl monetary authorities) 0.00 0.02 0.01 0.01
SOMA (managed by Federal Reserve) 0.03 0.15 0.10 0.11
Treasury Retail Noncompetitive 0.00 0.01 0.00 0.00
Other Noncompetitive 0.00 0.01 0.00 0.00
Source: U.S. Treasury, extracted April 17, 2025

2022 Stats by Year

Auction Statistics
Key Metrics Summary for 2022 • Total Issues: 39
Metric Min Max Average Median
Total Accepted (B) 44B 58B 51B 50B
bidToCoverRatio 2.44 3.32 2.90 2.90
pricePer100 97.67 99.89 98.76 98.74
highDiscountRate 0.22 4.60 2.45 2.50
highInvestmentRate 0.22 4.78 2.53 2.57
Primary Dealer (own house account) 0.25 0.61 0.38 0.39
Direct Bidder (own house account) 0.01 0.16 0.06 0.04
Indirect Bidder (including foreign & intl monetary authorities) 0.28 0.60 0.43 0.42
FIMA Noncompetitive (foreign & intl monetary authorities) 0.00 0.02 0.01 0.01
SOMA (managed by Federal Reserve) 0.03 0.14 0.11 0.11
Treasury Retail Noncompetitive 0.00 0.02 0.01 0.01
Other Noncompetitive 0.00 0.03 0.01 0.01
Source: U.S. Treasury, extracted April 17, 2025

2023 Stats by Year

Auction Statistics
Key Metrics Summary for 2023 • Total Issues: 39
Metric Min Max Average Median
Total Accepted (B) 49B 75B 62B 63B
bidToCoverRatio 2.29 3.23 2.85 2.87
pricePer100 97.30 97.66 97.44 97.38
highDiscountRate 4.62 5.35 5.07 5.17
highInvestmentRate 4.81 5.59 5.29 5.40
Primary Dealer (own house account) 0.22 0.54 0.32 0.31
Direct Bidder (own house account) 0.00 0.10 0.03 0.03
Indirect Bidder (including foreign & intl monetary authorities) 0.30 0.67 0.53 0.54
FIMA Noncompetitive (foreign & intl monetary authorities) 0.00 0.03 0.01 0.00
SOMA (managed by Federal Reserve) 0.01 0.12 0.07 0.08
Treasury Retail Noncompetitive 0.01 0.02 0.02 0.02
Other Noncompetitive 0.01 0.03 0.02 0.02
Source: U.S. Treasury, extracted April 17, 2025

2024 Stats by Year

Auction Statistics
Key Metrics Summary for 2024 • Total Issues: 40
Metric Min Max Average Median
Total Accepted (B) 70B 79B 74B 75B
bidToCoverRatio 2.67 3.42 2.97 2.95
pricePer100 97.39 97.91 97.58 97.48
highDiscountRate 4.13 5.16 4.79 4.99
highInvestmentRate 4.28 5.38 4.98 5.19
Primary Dealer (own house account) 0.18 0.38 0.26 0.26
Direct Bidder (own house account) 0.02 0.11 0.06 0.06
Indirect Bidder (including foreign & intl monetary authorities) 0.48 0.73 0.60 0.60
FIMA Noncompetitive (foreign & intl monetary authorities) 0.00 0.00 0.00 0.00
SOMA (managed by Federal Reserve) 0.00 0.09 0.05 0.06
Treasury Retail Noncompetitive 0.01 0.02 0.01 0.01
Other Noncompetitive 0.01 0.02 0.01 0.02
Source: U.S. Treasury, extracted April 17, 2025

2025 Stats by Year

Auction Statistics
Key Metrics Summary for 2025 • Total Issues: 12
Metric Min Max Average Median
Total Accepted (B) 68B 79B 73B 72B
bidToCoverRatio 2.63 3.27 2.93 2.92
pricePer100 97.87 97.98 97.91 97.91
highDiscountRate 4.00 4.22 4.13 4.14
highInvestmentRate 4.14 4.37 4.27 4.29
Primary Dealer (own house account) 0.20 0.34 0.25 0.24
Direct Bidder (own house account) 0.04 0.13 0.09 0.09
Indirect Bidder (including foreign & intl monetary authorities) 0.48 0.71 0.59 0.58
FIMA Noncompetitive (foreign & intl monetary authorities) 0.00 0.00 0.00 0.00
SOMA (managed by Federal Reserve) 0.00 0.09 0.05 0.05
Treasury Retail Noncompetitive 0.01 0.01 0.01 0.01
Other Noncompetitive 0.01 0.02 0.01 0.01
Source: U.S. Treasury, extracted April 17, 2025

References

U.S. Department of the Treasury. (2025). Announcements, results, and press releases. TreasuryDirect. https://www.treasurydirect.gov/auctions/announcements-data-results/announcement-results-press-releases/

  1. ‘fresh’ meaning freshly issued bill as opposed to reopened bill↩︎