Treasury Auctions · Notes

5-Year Treasury Note Auctions

Every 5-year auction since February 2000: the yield Treasury paid, how many bids came in, and who ended up holding the debt.

Latest 5-year Auction

Wednesday, Sep 23, 2026

5-Year Note

Softdemand vs previous six 5-year auctions

5.033%

stop-out yield · +64 bp vs prior auction · highest since June 2006

Size

$70B

5-Year

Bid-to-cover

2.21×

−0.12 vs avg 2.33×

Indirect bidders

54.3%

−10.9 pts vs avg

Dealers took

15.8%

+2.8 pts vs avg

The Sep 23, 2026 5-year note auction sold $70B at a yield of 5.033%, the highest since June 2006. Bidders put in 2.21× the amount on offer, and primary dealers were left with 15.8% of the competitive award. Measured against the previous six 5-year auctions, demand grades soft.

Source: Treasury's official results announcement (PDF)

Highest on Record

6.789%

May 9, 2000

Lowest on Record

0.275%

Sep 23, 2020

Last 12 Months

13 auctions

2 above their recent run, 3 below

Auctions Tracked

293

219 graded since 2008

Stop-out yield at every auction

2Y10YAll

Bid-to-cover, last 24 auctions

Each dot is one auction, colored by its demand grade. The white tick is the average of the previous six auctions; the stem shows how far above or below it the auction landed.

Demand vs the series' previous six auctions:StrongSolidAverageSoftWeak

Who bought it

Share of each competitive award. When the blue band at the top grows, the dealers were left holding debt the rest of the market passed on.

■ indirect (incl. foreign central banks) · ■ direct · ■ primary dealers

Every 5-year auction

The 24 most recent 5-Year Treasury Note auctions
Date	Size	Yield	Chg	Cover	Indirect	Direct	Dealers	Demand	Official results
Sep 23, 2026	$70B	5.033%	+64 bp	2.21×−0.12	54.3%−10.9 pts	29.9%	15.8%+2.8 pts	Soft	PDF
Aug 26, 2026	$70B	4.393%	−1.5 bp	2.37×+0.05	61.5%−3.9 pts	28.4%	10.0%−3.3 pts	Average	PDF
Jul 27, 2026	$70B	4.408%	+20.8 bp	2.28×−0.05	59.2%−6.4 pts	27.2%	13.5%+0.6 pts	Soft	PDF
Jun 24, 2026	$70B	4.200%	+1.8 bp	2.35×+0.02	61.6%−3.7 pts	25.5%	12.9%+0.6 pts	Average	PDF
May 27, 2026	$70B	4.182%	+22.7 bp	2.34×±0.00	74.9%+11.8 pts	12.3%	12.8%+0.8 pts	Solid	PDF
Apr 27, 2026	$70B	3.955%	−2.5 bp	2.33×−0.02	72.3%+10.2 pts	15.0%	12.7%+1.3 pts	Solid	PDF
Mar 25, 2026	$70B	3.980%	+36.5 bp	2.29×−0.07	61.9%+0.2 pts	22.5%	15.6%+4.8 pts	Average	PDF
Feb 25, 2026	$70B	3.615%	−20.8 bp	2.32×−0.04	62.5%+1.1 pts	24.7%	12.8%+2.7 pts	Average	PDF
Jan 27, 2026	$70B	3.823%	+7.6 bp	2.34×−0.02	60.7%−0.3 pts	28.5%	10.8%+0.5 pts	Average	PDF
Dec 23, 2025	$70B	3.747%	+18.5 bp	2.35×−0.01	59.5%−2.3 pts	31.7%	8.8%−1.9 pts	Average	PDF
Nov 25, 2025	$70B	3.562%	−6.3 bp	2.41×+0.05	61.4%−3.3 pts	27.6%	11.0%+0.6 pts	Average	PDF
Oct 27, 2025	$70B	3.625%	−8.5 bp	2.38×+0.02	66.8%+2.6 pts	23.9%	9.3%−1.4 pts	Average	PDF
Sep 24, 2025	$70B	3.710%	−1.4 bp	2.34×−0.02	59.4%−7.5 pts	28.6%	11.9%+1.0 pts	Soft	PDF
Aug 27, 2025	$70B	3.724%	−25.9 bp	2.36×−0.01	60.5%−8.9 pts	30.7%	8.8%−2.4 pts	Soft	PDF
Jul 28, 2025	$70B	3.983%	+10.4 bp	2.31×−0.08	58.3%−11.8 pts	29.5%	12.2%+1.2 pts	Soft	PDF
Jun 25, 2025	$70B	3.879%	−19.2 bp	2.36×−0.03	64.7%−5.9 pts	24.4%	10.9%−0.4 pts	Average	PDF
May 28, 2025	$70B	4.071%	+7.6 bp	2.39×−0.01	78.4%+10.2 pts	12.4%	9.2%−2.4 pts	Solid	PDF
Apr 23, 2025	$70B	3.995%	−10.5 bp	2.41×+0.02	64.0%−6.2 pts	24.8%	11.1%−1.0 pts	Soft	PDF
Mar 26, 2025	$70B	4.100%	−2.3 bp	2.33×−0.07	75.8%+6.6 pts	11.0%	13.2%+1.3 pts	Solid	PDF
Feb 25, 2025	$70B r	4.123%	−20.7 bp	2.42×+0.02	74.9%+6.3 pts	14.5%	10.6%−1.7 pts	Solid	PDF
Jan 27, 2025	$70B	4.330%	−14.8 bp	2.40×±0.00	62.8%−6.5 pts	26.1%	11.1%−1.6 pts	Soft	PDF
Dec 24, 2024	$70B	4.478%	+28.1 bp	2.40×+0.01	67.3%−2.3 pts	20.3%	12.5%−0.4 pts	Average	PDF
Nov 26, 2024	$70B	4.197%	+5.9 bp	2.43×+0.06	64.1%−5.6 pts	24.6%	11.3%−3.0 pts	Average	PDF
Oct 28, 2024	$70B	4.138%	+61.9 bp	2.39×+0.02	76.4%+8.4 pts	9.5%	14.2%−0.2 pts	Solid	PDF

Show 269 earlier auctions, back to February 2000+

Earlier 5-Year Treasury Note auctions
Date	Size	Yield	Cover	Indirect	Dealers	Demand
Sep 25, 2024	$70B	3.519%	2.38×	70.3%	11.5%	Average
Aug 28, 2024	$70B	3.645%	2.41×	70.5%	13.2%	Average
Jul 24, 2024	$70B	4.121%	2.40×	67.2%	14.0%	Average
Jun 26, 2024	$70B	4.331%	2.35×	68.9%	13.4%	Average
May 28, 2024	$70B	4.553%	2.30×	65.0%	19.5%	Average
Apr 24, 2024	$70B	4.659%	2.39×	65.7%	15.0%	Average
Mar 26, 2024	$67B	4.235%	2.41×	70.5%	12.7%	Average
Feb 26, 2024	$64B	4.320%	2.41×	63.5%	16.8%	Average
Jan 24, 2024	$61B	4.055%	2.31×	60.9%	20.4%	Weak
Dec 27, 2023	$58B	3.801%	2.50×	70.6%	14.0%	Average
Nov 27, 2023	$55B	4.420%	2.46×	65.5%	16.8%	Average
Oct 25, 2023	$52B	4.899%	2.36×	61.5%	19.4%	Weak
Sep 27, 2023	$49B	4.659%	2.52×	71.1%	11.2%	Average
Aug 28, 2023	$46B	4.400%	2.54×	67.9%	13.8%	Average
Jul 25, 2023	$43B	4.170%	2.60×	64.4%	13.5%	Soft
Jun 27, 2023	$43B	4.019%	2.52×	68.1%	12.2%	Average
May 24, 2023	$43B	3.749%	2.58×	72.7%	9.3%	Average
Apr 26, 2023	$43B	3.500%	2.54×	69.1%	13.6%	Average
Mar 28, 2023	$43B	3.665%	2.48×	68.5%	13.3%	Average
Feb 22, 2023	$43B	4.109%	2.48×	69.9%	11.0%	Solid
Jan 25, 2023	$43B	3.530%	2.64×	75.7%	8.8%	Strong
Dec 28, 2022	$43B	3.973%	2.46×	64.5%	16.9%	Average
Nov 21, 2022	$43B	3.974%	2.39×	66.2%	15.1%	Average
Oct 26, 2022	$43B	4.192%	2.48×	68.0%	16.5%	Solid
Sep 27, 2022	$44B	4.228%	2.27×	59.6%	21.7%	Average
Aug 24, 2022	$45B	3.230%	2.30×	61.2%	20.6%	Average
Jul 26, 2022	$46B	2.860%	2.46×	66.4%	16.8%	Average
Jun 27, 2022	$47B	3.271%	2.28×	56.5%	23.8%	Weak
May 25, 2022	$48B	2.736%	2.44×	62.9%	17.0%	Average
Apr 27, 2022	$49B	2.785%	2.41×	64.0%	16.5%	Average
Mar 28, 2022	$51B	2.543%	2.53×	60.2%	20.1%	Average
Feb 23, 2022	$53B	1.880%	2.49×	67.8%	13.8%	Solid
Jan 25, 2022 r	$55B	1.533%	2.50×	68.7%	14.8%	Strong
Dec 28, 2021	$57B	1.263%	2.41×	65.7%	20.0%	Solid
Nov 22, 2021	$59B	1.319%	2.34×	56.9%	26.9%	Average
Oct 27, 2021	$61B	1.157%	2.55×	64.8%	17.9%	Strong
Sep 27, 2021	$61B	0.990%	2.37×	54.3%	25.5%	Average
Aug 25, 2021	$61B	0.831%	2.35×	62.7%	19.8%	Average
Jul 27, 2021	$61B	0.710%	2.36×	58.1%	24.2%	Average
Jun 23, 2021	$61B	0.904%	2.36×	57.6%	24.3%	Average
May 26, 2021	$61B	0.788%	2.49×	64.4%	20.8%	Strong
Apr 26, 2021	$61B	0.849%	2.31×	57.9%	24.6%	Average
Mar 24, 2021	$61B	0.850%	2.36×	58.1%	25.3%	Average
Feb 24, 2021	$61B	0.621%	2.24×	57.1%	28.6%	Soft
Jan 26, 2021	$61B	0.424%	2.34×	60.5%	25.4%	Average
Dec 28, 2020	$59B	0.394%	2.39×	57.1%	24.9%	Average
Nov 23, 2020	$57B	0.397%	2.38×	56.5%	29.2%	Average
Oct 28, 2020	$55B	0.330%	2.38×	61.9%	24.1%	Average
Sep 23, 2020	$53B	0.275%	2.52×	61.9%	20.7%	Solid
Aug 26, 2020	$51B	0.298%	2.71×	66.2%	17.8%	Strong
Jul 27, 2020	$49B	0.288%	2.32×	58.1%	29.6%	Soft
Jun 24, 2020	$47B	0.330%	2.58×	62.3%	22.0%	Solid
May 27, 2020	$45B	0.334%	2.28×	57.3%	31.8%	Weak
Apr 27, 2020	$43B	0.394%	2.74×	60.4%	19.4%	Strong
Mar 25, 2020	$41B	0.535%	2.53×	52.1%	35.3%	Weak
Feb 26, 2020	$41B	1.150%	2.46×	61.5%	28.7%	Soft
Jan 27, 2020	$41B	1.448%	2.33×	60.0%	26.1%	Average
Dec 24, 2019	$41B	1.756%	2.49×	62.4%	21.5%	Average
Nov 26, 2019	$41B	1.587%	2.50×	64.8%	21.6%	Solid
Oct 23, 2019	$41B	1.570%	2.41×	65.7%	22.8%	Solid
Sep 25, 2019	$41B	1.600%	2.32×	58.8%	27.0%	Average
Aug 28, 2019	$41B	1.365%	2.48×	59.7%	21.6%	Average
Jul 24, 2019	$41B	1.824%	2.26×	53.4%	32.9%	Soft
Jun 26, 2019	$41B	1.791%	2.35×	57.1%	23.2%	Average
May 28, 2019 r	$41B	2.065%	2.38×	57.5%	24.1%	Average
Apr 24, 2019	$41B	2.315%	2.44×	61.5%	23.3%	Solid
Mar 27, 2019 r	$41B	2.172%	2.35×	59.0%	23.8%	Solid
Feb 25, 2019	$41B	2.489%	2.40×	57.7%	19.8%	Solid
Jan 28, 2019	$41B	2.576%	2.41×	60.2%	24.6%	Solid
Dec 26, 2018	$41B	2.652%	2.09×	53.6%	36.8%	Weak
Nov 27, 2018	$40B	2.880%	2.49×	59.9%	29.8%	Average
Oct 24, 2018	$39B	2.977%	2.30×	59.0%	39.1%	Weak
Sep 25, 2018	$38B	2.997%	2.39×	57.9%	32.9%	Soft
Aug 28, 2018	$37B	2.765%	2.49×	66.2%	24.7%	Average
Jul 25, 2018	$36B	2.815%	2.61×	67.2%	24.1%	Solid
Jun 27, 2018	$36B	2.719%	2.55×	62.0%	28.5%	Average
May 23, 2018	$36B	2.864%	2.52×	56.2%	32.9%	Soft
Apr 25, 2018	$35B	2.837%	2.49×	60.2%	26.2%	Average
Mar 27, 2018	$35B	2.612%	2.50×	63.5%	28.2%	Average
Feb 21, 2018	$35B	2.658%	2.44×	58.0%	29.3%	Soft
Jan 24, 2018	$34B	2.434%	2.48×	65.0%	26.0%	Average
Dec 27, 2017 r	$34B	2.245%	2.36×	58.4%	33.7%	Weak
Nov 27, 2017 r	$34B	2.066%	2.46×	65.8%	22.8%	Average
Oct 25, 2017	$34B	2.058%	2.44×	61.6%	27.4%	Average
Sep 27, 2017	$34B	1.911%	2.52×	69.6%	23.3%	Average
Aug 28, 2017	$34B	1.742%	2.58×	69.1%	17.5%	Strong
Jul 26, 2017	$34B	1.884%	2.58×	69.8%	24.1%	Strong
Jun 27, 2017	$34B	1.828%	2.33×	65.2%	25.6%	Average
May 24, 2017	$34B	1.831%	2.67×	68.7%	22.7%	Strong
Apr 26, 2017	$34B	1.875%	2.34×	57.3%	37.4%	Weak
Mar 28, 2017	$34B	1.950%	2.37×	68.9%	26.4%	Strong
Feb 22, 2017	$34B	1.937%	2.29×	58.2%	33.3%	Soft
Jan 25, 2017	$34B	1.988%	2.38×	63.3%	32.1%	Average
Dec 28, 2016	$34B	2.057%	2.72×	71.4%	24.5%	Strong
Nov 22, 2016	$34B	1.760%	2.44×	59.8%	35.7%	Average
Oct 26, 2016	$34B	1.303%	2.49×	59.7%	35.4%	Average
Sep 27, 2016	$34B	1.129%	2.39×	61.4%	34.1%	Average
Aug 24, 2016	$34B	1.125%	2.54×	68.7%	25.1%	Strong
Jul 26, 2016	$34B	1.180%	2.27×	53.6%	41.6%	Weak
Jun 21, 2016	$34B	1.218%	2.29×	57.2%	39.1%	Soft
May 25, 2016	$34B	1.395%	2.60×	66.6%	21.8%	Strong
Apr 26, 2016	$34B	1.410%	2.41×	63.4%	29.8%	Solid
Mar 29, 2016	$34B	1.335%	2.38×	53.9%	38.9%	Soft
Feb 24, 2016	$34B	1.169%	2.44×	67.3%	22.7%	Strong
Jan 27, 2016	$35B	1.496%	2.44×	53.5%	37.8%	Average
Dec 29, 2015	$35B	1.785%	2.32×	52.5%	36.5%	Weak
Nov 24, 2015	$35B	1.670%	2.52×	56.7%	33.2%	Average
Oct 28, 2015	$35B	1.415%	2.43×	58.9%	37.2%	Average
Sep 23, 2015	$35B	1.467%	2.57×	63.5%	31.5%	Average
Aug 26, 2015	$35B	1.463%	2.34×	50.1%	42.5%	Weak
Jul 29, 2015	$35B	1.625%	2.58×	67.5%	27.2%	Strong
Jun 24, 2015	$35B	1.710%	2.39×	56.6%	37.9%	Average
May 27, 2015	$35B	1.560%	2.46×	58.5%	31.6%	Average
Apr 28, 2015	$35B	1.380%	2.56×	61.2%	33.2%	Average
Mar 25, 2015	$35B	1.387%	2.35×	55.7%	39.6%	Weak
Feb 25, 2015	$35B	1.480%	2.54×	60.1%	32.4%	Average
Jan 29, 2015	$35B	1.288%	2.49×	63.1%	27.4%	Solid
Dec 23, 2014	$35B	1.739%	2.39×	58.7%	33.9%	Soft
Nov 25, 2014	$35B	1.595%	2.91×	65.0%	25.1%	Strong
Oct 29, 2014	$35B	1.567%	2.36×	47.8%	41.7%	Weak
Sep 24, 2014	$35B	1.800%	2.56×	50.3%	41.0%	Weak
Aug 27, 2014	$35B	1.646%	2.81×	52.7%	36.4%	Average
Jul 29, 2014	$35B	1.720%	2.81×	48.2%	25.9%	Solid
Jun 25, 2014	$35B	1.670%	2.74×	52.5%	38.2%	Solid
May 28, 2014	$35B	1.513%	2.73×	50.4%	39.1%	Average
Apr 23, 2014	$35B	1.732%	2.79×	44.9%	36.5%	Solid
Mar 26, 2014	$35B	1.715%	2.99×	50.9%	25.9%	Strong
Feb 26, 2014	$35B	1.530%	2.98×	50.7%	40.2%	Strong
Jan 30, 2014	$35B	1.572%	2.59×	44.6%	44.7%	Average
Dec 18, 2013	$35B	1.600%	2.42×	25.8%	62.4%	Weak
Nov 26, 2013	$35B	1.340%	2.61×	50.0%	39.2%	Average
Oct 29, 2013	$35B	1.300%	2.65×	45.9%	41.9%	Average
Sep 25, 2013 r	$35B	1.436%	2.67×	44.9%	43.4%	Average
Aug 28, 2013 r	$35B	1.624%	2.38×	40.3%	46.9%	Weak
Jul 24, 2013	$35B	1.410%	2.46×	53.9%	37.8%	Average
Jun 26, 2013	$35B	1.484%	2.45×	53.0%	43.5%	Average
May 29, 2013	$35B	1.045%	2.79×	44.0%	32.6%	Solid
Apr 24, 2013	$35B	0.710%	2.86×	43.6%	42.4%	Average
Mar 27, 2013	$35B	0.760%	2.73×	46.1%	37.1%	Solid
Feb 26, 2013	$35B	0.777%	2.85×	41.7%	44.0%	Average
Jan 29, 2013	$35B	0.889%	2.88×	39.7%	43.5%	Average
Dec 18, 2012	$35B	0.769%	2.72×	32.4%	37.2%	Average
Nov 28, 2012	$35B	0.641%	2.89×	45.4%	38.8%	Solid
Oct 24, 2012	$35B	0.774%	2.73×	42.3%	42.2%	Average
Sep 26, 2012	$35B	0.647%	3.06×	42.0%	47.2%	Solid
Aug 29, 2012	$35B	0.708%	2.92×	39.7%	49.4%	Average
Jul 25, 2012	$35B	0.584%	2.71×	42.6%	52.2%	Weak
Jun 27, 2012	$35B	0.752%	2.61×	35.1%	54.1%	Weak
May 23, 2012	$35B	0.748%	2.99×	42.6%	50.9%	Soft
Apr 25, 2012	$35B	0.887%	3.09×	47.5%	43.1%	Average
Mar 28, 2012	$35B	1.040%	2.85×	41.9%	46.8%	Soft
Feb 22, 2012	$35B	0.900%	2.89×	41.8%	45.3%	Average
Jan 25, 2012	$35B	0.899%	3.17×	43.4%	41.5%	Solid
Dec 20, 2011	$35B	0.880%	2.86×	50.6%	40.3%	Solid
Nov 22, 2011	$35B	0.937%	3.15×	45.3%	45.1%	Solid
Oct 26, 2011	$35B	1.055%	2.90×	49.3%	40.3%	Strong
Sep 28, 2011	$35B	1.015%	3.04×	45.9%	40.3%	Strong
Aug 24, 2011	$35B	1.029%	2.71×	42.1%	44.0%	Solid
Jul 27, 2011	$35B	1.580%	2.62×	36.6%	48.8%	Soft
Jun 28, 2011	$35B	1.615%	2.59×	37.6%	52.1%	Soft
May 25, 2011	$35B	1.813%	3.20×	47.1%	44.0%	Strong
Apr 27, 2011	$35B	2.124%	2.77×	40.0%	48.8%	Average
Mar 29, 2011	$35B	2.260%	2.79×	42.4%	46.4%	Average
Feb 23, 2011	$35B	2.190%	2.69×	34.2%	58.2%	Weak
Jan 26, 2011	$35B	2.041%	2.97×	45.0%	45.4%	Average
Dec 28, 2010	$35B	2.149%	2.61×	35.6%	58.2%	Weak
Nov 23, 2010	$35B	1.411%	2.65×	31.5%	52.9%	Weak
Oct 27, 2010	$35B	1.330%	2.82×	39.5%	48.8%	Soft
Sep 28, 2010	$35B	1.260%	2.96×	50.1%	41.2%	Strong
Aug 25, 2010	$36B	1.374%	2.83×	50.8%	40.5%	Strong
Jul 28, 2010	$37B	1.796%	3.06×	47.3%	41.4%	Solid
Jun 23, 2010	$38B	1.995%	2.58×	34.6%	54.8%	Weak
May 26, 2010	$40B	2.130%	2.71×	40.6%	44.4%	Soft
Apr 28, 2010	$42B	2.540%	2.75×	48.9%	36.7%	Solid
Mar 24, 2010	$42B	2.605%	2.55×	39.7%	49.6%	Weak
Feb 24, 2010	$42B	2.395%	2.75×	40.3%	46.8%	Weak
Jan 27, 2010	$42B	2.370%	2.80×	53.0%	39.6%	Strong
Dec 29, 2009	$42B	2.665%	2.59×	44.0%	43.0%	Soft
Nov 24, 2009	$42B	2.175%	2.81×	60.9%	36.2%	Strong
Oct 28, 2009	$41B	2.388%	2.63×	54.8%	42.3%	Strong
Sep 23, 2009	$40B	2.470%	2.40×	44.8%	44.3%	Solid
Aug 26, 2009	$39B	2.494%	2.51×	56.4%	40.6%	Strong
Jul 29, 2009	$39B	2.689%	1.92×	36.7%	61.6%	Weak
Jun 24, 2009	$37B	2.700%	2.58×	62.8%	34.3%	Strong
May 27, 2009	$35B	2.310%	2.32×	44.2%	53.0%	Strong
Apr 28, 2009	$35B	1.940%	2.22×	30.8%	66.9%	Soft
Mar 25, 2009	$34B	1.849%	2.02×	30.0%	68.5%	Soft
Feb 25, 2009	$32B	1.985%	2.21×	48.9%	49.5%	Strong
Jan 29, 2009	$30B	1.820%	1.98×	34.9%	63.9%	Soft
Dec 23, 2008	$28B	1.539%	2.06×	24.5%	68.0%	Soft
Nov 25, 2008	$26B	2.110%	2.44×	37.2%	60.9%	Strong
Oct 30, 2008	$24B	2.825%	2.28×	28.3%	57.4%	Strong
Sep 25, 2008	$24B	3.129%	1.91×	26.8%	72.7%	Soft
Aug 28, 2008	$22B	3.129%	2.14×	29.8%	69.5%	Solid
Jul 24, 2008	$21B	3.440%	2.46×	33.1%	66.0%	Strong
Jun 26, 2008	$20B	3.440%	2.48×	21.2%	78.5%	—
May 29, 2008	$19B	3.520%	1.84×	16.5%	82.8%	—
Apr 24, 2008	$19B	3.159%	1.65×	28.9%	71.0%	—
Mar 27, 2008	$18B	2.595%	1.98×	—	—	—
Feb 28, 2008	$16B	2.755%	2.29×	—	—	—
Jan 29, 2008	$14B	2.909%	2.16×	—	—	—
Dec 27, 2007	$13B	3.651%	2.31×	—	—	—
Nov 29, 2007	$13B	3.415%	2.26×	—	—	—
Oct 25, 2007	$13B	3.993%	2.69×	—	—	—
Sep 27, 2007	$13B	4.250%	2.86×	—	—	—
Aug 30, 2007	$13B	4.248%	2.74×	—	—	—
Jul 26, 2007	$13B	4.640%	2.15×	—	—	—
Jun 27, 2007	$13B	4.940%	2.73×	—	—	—
May 30, 2007	$13B	4.818%	2.60×	—	—	—
Apr 26, 2007	$13B	4.579%	2.29×	—	—	—
Mar 29, 2007	$13B	4.535%	2.14×	—	—	—
Feb 22, 2007	$13B	4.719%	2.43×	—	—	—
Jan 25, 2007	$13B	4.855%	2.21×	—	—	—
Dec 28, 2006	$13B	4.704%	2.50×	—	—	—
Nov 29, 2006	$14B	4.507%	2.28×	—	—	—
Oct 26, 2006	$14B	4.694%	2.12×	—	—	—
Sep 28, 2006	$14B	4.569%	2.75×	—	—	—
Aug 30, 2006	$14B	4.738%	3.11×	—	—	—
Jul 27, 2006	$14B	4.995%	2.28×	—	—	—
Jun 28, 2006	$14B	5.203%	2.05×	—	—	—
May 25, 2006	$14B	4.945%	2.02×	—	—	—
Apr 27, 2006	$14B	4.964%	1.87×	—	—	—
Mar 29, 2006	$14B	4.785%	2.25×	—	—	—
Feb 23, 2006	$14B	4.622%	2.18×	—	—	—
Jan 11, 2006	$13B	4.370%	2.10×	—	—	—
Dec 7, 2005	$13B	4.435%	2.38×	—	—	—
Nov 9, 2005	$13B	4.525%	2.61×	—	—	—
Oct 12, 2005	$13B	4.270%	2.75×	—	—	—
Sep 7, 2005	$13B	3.902%	2.61×	—	—	—
Aug 10, 2005	$13B	4.223%	2.92×	—	—	—
Jul 13, 2005	$13B	3.970%	2.37×	—	—	—
Jun 8, 2005	$14B	3.705%	2.60×	—	—	—
May 11, 2005	$15B	3.890%	2.47×	—	—	—
Apr 13, 2005	$15B	4.046%	1.86×	—	—	—
Mar 9, 2005	$15B	4.080%	2.58×	—	—	—
Feb 9, 2005	$15B	3.618%	2.53×	—	—	—
Jan 12, 2005	$15B	3.731%	2.37×	—	—	—
Dec 8, 2004	$15B	3.550%	2.60×	—	—	—
Nov 9, 2004	$15B	3.510%	2.90×	—	—	—
Oct 6, 2004	$15B	3.490%	2.32×	—	—	—
Sep 8, 2004	$15B	3.439%	2.72×	—	—	—
Aug 11, 2004	$15B	3.520%	2.64×	—	—	—
Jul 7, 2004	$15B	3.663%	2.33×	—	—	—
Jun 9, 2004	$15B	4.010%	2.91×	—	—	—
May 12, 2004	$15B	3.927%	2.64×	—	—	—
Apr 6, 2004	$16B	3.220%	2.28×	—	—	—
Mar 10, 2004	$16B	2.695%	2.47×	—	—	—
Feb 11, 2004	$16B	3.030%	2.84×	—	—	—
Jan 7, 2004	$16B	3.260%	2.51×	—	—	—
Dec 10, 2003	$16B	3.375%	1.92×	—	—	—
Nov 12, 2003	$16B	3.430%	2.27×	—	—	—
Oct 8, 2003	$16B	3.139%	2.25×	—	—	—
Sep 10, 2003	$16B	3.230%	2.47×	—	—	—
Aug 6, 2003	$18B	3.300%	2.48×	—	—	—
Jun 11, 2003 r	$15B	2.100%	1.81×	—	—	—
May 7, 2003	$18B	2.680%	2.09×	—	—	—
Feb 11, 2003	$24B	3.029%	1.42×	—	—	—
Nov 5, 2002	$22B	3.030%	1.96×	—	—	—
Aug 6, 2002	$22B	3.348%	1.76×	—	—	—
May 7, 2002	$22B	4.475%	1.72×	—	—	—
Feb 5, 2002 r	$16B	4.254%	1.47×	—	—	—
Nov 6, 2001	$16B	3.617%	2.18×	—	—	—
Aug 7, 2001 r	$11B	4.670%	2.15×	—	—	—
May 8, 2001	$13B	4.660%	2.03×	—	—	—
Feb 6, 2001 r	$11B	4.904%	2.00×	—	—	—
Nov 7, 2000	$12B	5.870%	1.74×	—	—	—
Aug 8, 2000 r	$10B	6.060%	3.06×	—	—	—
May 9, 2000	$12B	6.789%	1.98×	—	—	—
Feb 8, 2000 r	$12B	6.741%	1.90×	—	—	—

Yield = stop-out (high) yield; a real yield for TIPS. Chg = versus the previous auction of the same security. Cover = bid-to-cover ratio. Indirect, direct and dealer shares are of the competitive award. Small figures under a measure compare it with the previous six auctions of the same security, colored when the move is big enough to count toward the grade: orange for stronger demand, bluefor weaker. r = reopening of an existing issue. PDF = Treasury's official results.

Frequently Asked Questions

What yield did the last 5-year auction clear at?

When is the next 5-year auction?

Treasury has not announced the next 5-year auction yet; it does so about a week ahead. Treasury held 13 of these auctions in the last twelve months, each a new issue. This page lists it as soon as it is announced.

What is the highest yield at a 5-year auction since 2000?

6.789%, on May 9, 2000. The lowest was 0.275% on Sep 23, 2020. The record on this page starts with the February 2000 auction.

How often does Treasury auction the 5-year?

Treasury held 13 of these auctions in the last twelve months, each a new issue. A reopening sells more of an existing security, with the same maturity date and coupon, instead of creating a new one.

Data: US Department of the Treasury (Fiscal Data and TreasuryDirect). Demand grades are TFTC's calculation; the method is on the Treasury auctions tracker. Full history as open JSON (CC BY 4.0). Not investment advice.