Upcoming US Treasury auction - 7 year

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

7 year note

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
2017	32	2.5	23%	12%	53%	0%	0%	0%	12%
2018	398	2.5	20%	12%	57%	0%	0%	0%	10%
2019	409	2.5	19%	17%	58%	0%	0%	0%	6%
2020	582	2.5	20%	14%	55%	0%	0%	0%	11%
2021	841	2.3	18%	18%	53%	0%	0%	0%	12%
2022	545	2.4	13%	18%	60%	0%	0%	0%	11%
2023	457	2.5	12%	17%	64%	0%	0%	0%	0%
2024	539	2.6	12%	17%	69%	0%	0%	0%	3%
2025	140	2.6	9%	23%	60%	0%	0%	0%	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 25, 2018	January 31, 2018	January 31, 2025	2.7	99.586	32 B
February 22, 2018	February 28, 2018	February 28, 2025	2.5	99.439	36 B
March 28, 2018	April 2, 2018	March 31, 2025	2.3	99.398	34 B
April 26, 2018	April 30, 2018	April 30, 2025	2.6	99.516	33 B
May 24, 2018	May 31, 2018	May 31, 2025	2.6	99.654	35 B
June 28, 2018	July 2, 2018	June 30, 2025	2.5	99.627	34 B
July 26, 2018	July 31, 2018	July 31, 2025	2.5	99.654	32 B
August 29, 2018	August 31, 2018	August 31, 2025	2.6	99.407	33 B
September 27, 2018	October 1, 2018	September 30, 2025	2.4	99.787	31 B
October 25, 2018	October 31, 2018	October 31, 2025	2.4	99.537	31 B
November 28, 2018	November 30, 2018	November 30, 2025	2.5	99.379	35 B
December 27, 2018	December 31, 2018	December 31, 2025	2.5	99.651	32 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 29, 2019	January 31, 2019	January 31, 2026	2.5	100.000	32 B
February 26, 2019	February 28, 2019	February 28, 2026	2.6	99.758	34 B
March 28, 2019	April 1, 2019	March 31, 2026	2.5	99.800	32 B
April 25, 2019	April 30, 2019	April 30, 2026	2.5	99.673	32 B
May 29, 2019	May 31, 2019	May 31, 2026	2.3	99.877	35 B
June 27, 2019	July 1, 2019	June 30, 2026	2.4	99.909	34 B
July 25, 2019	July 31, 2019	July 31, 2026	2.3	99.401	33 B
August 29, 2019	September 3, 2019	August 31, 2026	2.2	99.246	36 B
September 26, 2019	September 30, 2019	September 30, 2026	2.5	99.947	35 B
October 24, 2019	October 31, 2019	October 31, 2026	2.5	99.789	35 B
November 27, 2019	December 2, 2019	November 30, 2026	2.4	99.383	35 B
December 26, 2019	December 31, 2019	December 31, 2026	2.5	99.444	35 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 28, 2020	January 31, 2020	January 31, 2027	2.4	99.538	35 B
February 27, 2020	March 2, 2020	February 28, 2027	2.5	99.185	37 B
March 26, 2020	March 31, 2020	March 31, 2027	2.8	99.625	36 B
April 28, 2020	April 30, 2020	April 30, 2027	2.6	99.828	38 B
May 28, 2020	June 1, 2020	May 31, 2027	2.5	99.637	42 B
June 25, 2020	June 30, 2020	June 30, 2027	2.5	99.924	47 B
July 28, 2020	July 31, 2020	July 31, 2027	2.4	99.511	49 B
August 27, 2020	August 31, 2020	August 31, 2027	2.5	99.870	51 B
September 24, 2020	September 30, 2020	September 30, 2027	2.4	99.401	57 B
October 29, 2020	November 2, 2020	October 31, 2027	2.2	99.316	59 B
November 24, 2020	November 30, 2020	November 30, 2027	2.4	99.809	64 B
December 29, 2020	December 31, 2020	December 31, 2027	2.3	99.747	68 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 28, 2021	February 1, 2021	January 31, 2028	2.3	99.973	70 B
February 25, 2021	March 1, 2021	February 29, 2028	2.0	99.531	75 B
March 25, 2021	March 31, 2021	March 31, 2028	2.2	99.666	73 B
April 27, 2021	April 30, 2021	April 30, 2028	2.3	99.627	74 B
May 27, 2021	June 1, 2021	May 31, 2028	2.4	99.766	74 B
June 24, 2021	June 30, 2021	June 30, 2028	2.4	99.906	71 B
July 29, 2021	August 2, 2021	July 31, 2028	2.2	99.664	68 B
August 26, 2021	August 31, 2021	August 31, 2028	2.3	99.799	70 B
September 28, 2021	September 30, 2021	September 30, 2028	2.2	99.454	69 B
October 28, 2021	November 1, 2021	October 31, 2028	2.2	99.430	68 B
November 23, 2021	November 30, 2021	November 30, 2028	2.4	99.419	64 B
December 29, 2021	December 31, 2021	December 31, 2028	2.2	99.304	64 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 27, 2022	January 31, 2022	January 31, 2029	2.4	99.875	61 B
February 24, 2022	February 28, 2022	February 28, 2029	2.4	99.804	59 B
March 29, 2022	March 31, 2022	March 31, 2029	2.4	99.208	56 B
April 28, 2022	May 2, 2022	April 30, 2029	2.4	99.792	50 B
May 26, 2022	May 31, 2022	May 31, 2029	2.7	99.829	48 B
June 28, 2022	June 30, 2022	June 30, 2029	2.5	99.814	43 B
July 28, 2022	August 1, 2022	July 31, 2029	2.6	99.335	41 B
August 25, 2022	August 31, 2022	August 31, 2029	2.6	99.969	42 B
September 28, 2022	September 30, 2022	September 30, 2029	2.6	99.860	36 B
October 27, 2022	October 31, 2022	October 31, 2029	2.4	99.837	35 B
November 22, 2022	November 30, 2022	November 30, 2029	2.3	99.909	39 B
December 29, 2022	January 3, 2023	December 31, 2029	2.4	99.720	35 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 26, 2023	January 31, 2023	January 31, 2030	2.7	99.895	35 B
February 23, 2023	February 28, 2023	February 28, 2030	2.5	99.626	43 B
March 29, 2023	March 31, 2023	March 31, 2030	2.4	99.994	35 B
April 27, 2023	May 1, 2023	April 30, 2030	2.4	99.613	38 B
May 25, 2023	May 31, 2023	May 31, 2030	2.6	99.531	42 B
June 28, 2023	June 30, 2023	June 30, 2030	2.6	99.458	35 B
July 27, 2023	July 31, 2023	July 31, 2030	2.5	99.475	35 B
August 29, 2023	August 31, 2023	August 31, 2030	2.7	99.477	40 B
September 28, 2023	October 2, 2023	September 30, 2030	2.5	99.716	37 B
October 26, 2023	October 31, 2023	October 31, 2030	2.7	99.806	38 B
November 28, 2023	November 30, 2023	November 30, 2030	2.4	99.857	39 B
December 28, 2023	January 2, 2024	December 31, 2030	2.5	99.337	40 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 25, 2024	January 31, 2024	January 31, 2031	2.6	99.343	41 B
February 27, 2024	February 29, 2024	February 28, 2031	2.6	99.539	44 B
March 27, 2024	April 1, 2024	March 31, 2031	2.6	99.639	43 B
April 25, 2024	April 30, 2024	April 30, 2031	2.5	99.463	44 B
May 29, 2024	May 31, 2024	May 31, 2031	2.4	99.852	47 B
June 27, 2024	July 1, 2024	June 30, 2031	2.6	99.844	46 B
July 25, 2024	July 31, 2024	July 31, 2031	2.6	99.777	46 B
August 29, 2024	September 3, 2024	August 31, 2031	2.5	99.878	47 B
September 26, 2024	September 30, 2024	September 30, 2031	2.6	99.737	45 B
October 29, 2024	October 31, 2024	October 31, 2031	2.7	99.459	45 B
November 27, 2024	December 2, 2024	November 30, 2031	2.7	99.651	47 B
December 26, 2024	December 31, 2024	December 31, 2031	2.8	99.810	44 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 24, 2025	April 30, 2025	April 30, 2032	NA	NA	NA
March 27, 2025	March 31, 2025	March 31, 2032	2.5	99.352	45 B
February 26, 2025	February 28, 2025	February 29, 2032	2.6	99.585	48 B
January 28, 2025	January 31, 2025	January 31, 2032	2.6	99.512	46 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: 12
Metric	Min	Max	Average	Median
Total Accepted (B)	31B	36B	33B	33B
bidToCoverRatio	2.34	2.73	2.52	2.51
pricePer100	99.38	99.79	99.55	99.56
highYield	2.56	3.07	2.86	2.89
interestRate	2.50	3.00	2.79	2.81
Primary Dealer (own house account)	0.10	0.30	0.20	0.20
Direct Bidder (own house account)	0.05	0.25	0.13	0.12
Indirect Bidder (including foreign & intl monetary authorities)	0.47	0.68	0.58	0.57
FIMA Noncompetitive (foreign & intl monetary authorities)	0.00	0.00	0.00	0.00
SOMA (managed by Federal Reserve)	0.00	0.20	0.09	0.10
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.00	0.00	0.00
Source: U.S. Treasury, extracted April 17, 2025

2019 Stats by Year

Auction Statistics
Key Metrics Summary for 2019 • Total Issues: 12
Metric	Min	Max	Average	Median
Total Accepted (B)	32B	36B	34B	34B
bidToCoverRatio	2.16	2.60	2.43	2.46
pricePer100	99.25	100.00	99.69	99.77
highYield	1.49	2.62	2.02	1.93
interestRate	1.38	2.62	1.97	1.88
Primary Dealer (own house account)	0.15	0.30	0.20	0.19
Direct Bidder (own house account)	0.09	0.27	0.18	0.17
Indirect Bidder (including foreign & intl monetary authorities)	0.44	0.64	0.57	0.58
FIMA Noncompetitive (foreign & intl monetary authorities)	0.00	0.00	0.00	0.00
SOMA (managed by Federal Reserve)	0.00	0.11	0.06	0.06
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.00	0.00	0.00
Source: U.S. Treasury, extracted April 17, 2025

2020 Stats by Year

Auction Statistics
Key Metrics Summary for 2020 • Total Issues: 12
Metric	Min	Max	Average	Median
Total Accepted (B)	35B	68B	49B	48B
bidToCoverRatio	2.24	2.76	2.46	2.46
pricePer100	99.19	99.92	99.62	99.63
highYield	0.45	1.57	0.70	0.58
interestRate	0.38	1.50	0.65	0.50
Primary Dealer (own house account)	0.14	0.25	0.20	0.20
Direct Bidder (own house account)	0.08	0.16	0.13	0.14
Indirect Bidder (including foreign & intl monetary authorities)	0.52	0.63	0.56	0.55
FIMA Noncompetitive (foreign & intl monetary authorities)	0.00	0.00	0.00	0.00
SOMA (managed by Federal Reserve)	0.08	0.13	0.11	0.11
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.00	0.00	0.00
Source: U.S. Treasury, extracted April 17, 2025

2021 Stats by Year

Auction Statistics
Key Metrics Summary for 2021 • Total Issues: 12
Metric	Min	Max	Average	Median
Total Accepted (B)	64B	75B	70B	70B
bidToCoverRatio	2.04	2.42	2.28	2.27
pricePer100	99.30	99.97	99.63	99.65
highYield	0.75	1.59	1.26	1.29
interestRate	0.75	1.50	1.21	1.25
Primary Dealer (own house account)	0.15	0.33	0.19	0.18
Direct Bidder (own house account)	0.14	0.21	0.18	0.18
Indirect Bidder (including foreign & intl monetary authorities)	0.31	0.58	0.51	0.53
FIMA Noncompetitive (foreign & intl monetary authorities)	0.00	0.00	0.00	0.00
SOMA (managed by Federal Reserve)	0.08	0.18	0.12	0.12
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.00	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: 12
Metric	Min	Max	Average	Median
Total Accepted (B)	35B	61B	45B	42B
bidToCoverRatio	2.33	2.69	2.48	2.45
pricePer100	99.21	99.97	99.75	99.82
highYield	1.77	4.03	3.06	3.02
interestRate	1.75	4.00	3.02	3.00
Primary Dealer (own house account)	0.06	0.19	0.12	0.13
Direct Bidder (own house account)	0.14	0.25	0.19	0.18
Indirect Bidder (including foreign & intl monetary authorities)	0.51	0.68	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	0.16	0.09	0.11
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.00	0.00	0.00
Source: U.S. Treasury, extracted April 17, 2025

2023 Stats by Year

Auction Statistics
Key Metrics Summary for 2023 • Total Issues: 12
Metric	Min	Max	Average	Median
Total Accepted (B)	35B	43B	38B	38B
bidToCoverRatio	2.39	2.70	2.54	2.50
pricePer100	99.34	99.99	99.65	99.62
highYield	3.52	4.91	4.05	3.96
interestRate	3.50	4.88	3.99	3.88
Primary Dealer (own house account)	0.06	0.20	0.12	0.12
Direct Bidder (own house account)	0.14	0.21	0.17	0.17
Indirect Bidder (including foreign & intl monetary authorities)	0.53	0.77	0.66	0.64
FIMA Noncompetitive (foreign & intl monetary authorities)	0.00	0.00	0.00	0.00
SOMA (managed by Federal Reserve)	0.00	0.19	0.04	0.00
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.01	0.00	0.00
Source: U.S. Treasury, extracted April 17, 2025

2024 Stats by Year

Auction Statistics
Key Metrics Summary for 2024 • Total Issues: 12
Metric	Min	Max	Average	Median
Total Accepted (B)	41B	47B	45B	45B
bidToCoverRatio	2.43	2.76	2.60	2.59
pricePer100	99.34	99.88	99.67	99.69
highYield	3.67	4.72	4.23	4.20
interestRate	3.62	4.62	4.18	4.12
Primary Dealer (own house account)	0.07	0.16	0.12	0.12
Direct Bidder (own house account)	0.03	0.24	0.16	0.17
Indirect Bidder (including foreign & intl monetary authorities)	0.60	0.87	0.69	0.69
FIMA Noncompetitive (foreign & intl monetary authorities)	0.00	0.00	0.00	0.00
SOMA (managed by Federal Reserve)	0.00	0.07	0.03	0.03
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.00	0.00	0.00
Source: U.S. Treasury, extracted April 17, 2025

2025 Stats by Year

Auction Statistics
Key Metrics Summary for 2025 • Total Issues: 4
Metric	Min	Max	Average	Median
Total Accepted (B)	45B	48B	47B	46B
bidToCoverRatio	2.53	2.64	2.60	2.64
pricePer100	99.35	99.59	99.48	99.51
highYield	4.19	4.46	4.29	4.23
interestRate	4.12	4.38	4.21	4.12
Primary Dealer (own house account)	0.08	0.12	0.10	0.09
Direct Bidder (own house account)	0.22	0.25	0.23	0.23
Indirect Bidder (including foreign & intl monetary authorities)	0.59	0.63	0.61	0.60
FIMA Noncompetitive (foreign & intl monetary authorities)	0.00	0.00	0.00	0.00
SOMA (managed by Federal Reserve)	0.03	0.09	0.06	0.05
Treasury Retail Noncompetitive	0.00	0.00	0.00	0.00
Other Noncompetitive	0.00	0.00	0.00	0.00
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/