US 2-Year Note auction: 4.787% high yield, 2.63x bid-to-cover
Why now
Thesis: Strong 2-year auction anchors higher rate expectations
Catalyst to watch: Upcoming Treasury auctions
Main risk: Yields staying elevated
Why it matters
Strong 2-year auction at 4.787% with 2.63x cover shows firm front-end yields and solid demand, anchoring higher rate expectations.
Details
US Treasury 2-Year Note auction (CUSIP 91282CRP8, auctioned 2026-09-22): offering $69.0B; accepted $79.4B; high yield 4.787%; bid-to-cover 2.63x; +4.9bp vs average; dealers 13.2%; indirect 57.8%; direct 29.0%; SOMA add $10.39B.
Related assets & topics
Treasury BondsInterest RatesSources
- treasury · api.fiscaldata.treasury.gov · 2026-09-22 17:30 UTC