--- title: "52-Week Treasury Bill Auction Results: Sep 29, 2026" description: "52-Week Treasury Bill, Sep 29, 2026: 4.4% high yield, 3.07x cover, indirects 70.9%. Full bidder split, tails and 12-month averages, updated as results cross." source: Helious canonical: "https://helious.io/auctions/52-week-bill" --- # 52-Week Treasury Bill Auction: Results, Schedule & History High yield 4.400% Sep 29, 2026 Tail — no when-issued Bid to cover 3.07 12m avg 3.35 Indirects 70.9% 12m avg 65.9% [Ask Helious about the 52-Week Treasury Bill auction](https://helious.io/?ask=How%20did%20the%20last%2052-Week%20Treasury%20Bill%20auction%20go%20and%20what%20does%20the%20tail%20say%3F&from=/auctions/52-week-bill) High yield, last 12 auctions 4.400%3.873%3.345% 2025-11-252026-09-29 Human Agent Last result · Sep 29, 2026 4.4% b/c 3.07 · indirects 70.9% IN LINE { "tenor": "52-week-bill", "date": "2026-09-29", "offering_usd": 54000000000, "high_yield": 4.4, "tail_bps": null, "bid_to_cover": 3.07, "indirect_pct": 70.9, "verdict": "IN LINE" } The 52-Week Treasury Bill auction on Sep 29, 2026 put $54B on offer and stopped at a high yield of 4.4%. The bid-to-cover was 3.07, against a twelve-month average of 3.35. Indirects took 70.9%, directs 4.6% and primary dealers 24.6%. Helious captured the result live as it crossed and graded it IN LINE. A bill pays no coupon, so the 52-week is a single rate covering a whole year of expected Fed policy with nothing paid in between. That makes it the longest zero-coupon point on the curve. It only comes round every four weeks, and that gap is what makes each result worth trading, because you get a fresh read on where one-year rate expectations have moved. Demand here also previews appetite for the 2-year note. NEXT AUCTION Auctioned every 4 weeks: auctioned tuesday, settles thursday; results cross ~11:30 ET. LATEST RESULT: SEP 29, 2026 4.4%high yield $54Bon offer 3.07bid-to-cover-0.28 vs avg 70.9%indirects+5.02 vs avg 4.6%directs+1.19 vs avg 24.6%dealer take-6.11 vs avg IN LINEdesk verdict [Full desk recap →](https://helious.io/news/auc-912797WJ2-2026-09-29/52-week-1-year-bill-auction-in-line) 12-MONTH AVERAGES · 12 AUCTIONS 3.35bid-to-cover 65.88%indirects 3.41%directs 30.71%dealer take Read a new result against these numbers. When cover, indirects and directs come in above the average, that is solid investor demand. An above-average [dealer take](https://helious.io/learn/primary-dealers) means the street absorbed the balance. The shares are percentages of *competitive* accepted, so indirects, directs and dealers add up to 100. ## Recent auction results DATECUSIPISSUEOFFEREDHIGH YIELDTAILB/CINDIRECTSDIRECTSDEALERSDESK RECAP Sep 29, 2026Sep 29 ’26 912797WJ2 New $54B 4.400% — 3.07 70.9% 4.6% 24.6% [IN LINE →](https://helious.io/news/auc-912797WJ2-2026-09-29/52-week-1-year-bill-auction-in-line) Sep 1, 2026Sep 1 ’26 912797WA1 New $52B 3.980% — 3.61 75.2% 3.3% 21.4% [STRONG →](https://helious.io/news/auc-912797WA1-2026-09-01/52-week-1-year-bill-auction-strong) Aug 4, 2026Aug 4 ’26 912797VR5 New $52B 3.880% — 3.62 70.8% 2.3% 27.0% [STRONG →](https://helious.io/news/auc-912797VR5-2026-08-04/52-week-1-year-bill-auction-strong) Jul 7, 2026Jul 7 ’26 912797VQ7 New $52B 3.860% — 3.14 60.1% 4.6% 35.3% [IN LINE →](https://helious.io/news/auc-912797VQ7-2026-07-07/52-week-1-year-bill-auction-in-line) Jun 9, 2026Jun 9 ’26 912797VF1 New $50B 3.750% — 3.34 68.2% 2.2% 29.6% — May 12, 2026May 12 ’26 912797UX3 New $50B 3.650% — 3.41 69.1% 3.5% 27.5% — Apr 14, 2026Apr 14 ’26 912797UE5 New $50B 3.560% — 3.21 55.8% 5.2% 39.0% — Mar 17, 2026Mar 17 ’26 912797UD7 New $50B 3.485% — 3.43 64.9% 3.5% 31.6% — Feb 17, 2026Feb 17 ’26 912797TV9 New $50B 3.345% — 2.96 67.8% 3.1% 29.1% — Jan 20, 2026Jan 20 ’26 912797TM9 New $50B 3.390% — 3.42 72.3% 2.3% 25.4% — Dec 23, 2025Dec 23 ’25 912797TC1 New $50B 3.380% — 3.74 64.1% 3.0% 32.8% — Nov 25, 2025Nov 25 ’25 912797SU2 New $50B 3.460% — 3.08 68.8% 3.5% 27.7% — The **issue** column says which kind of auction it was. A [reopening](https://helious.io/learn/when-issued-yield) re-auctions a security that already exists, under the same CUSIP, and that is the norm for coupons outside refunding months. "New" sets a fresh coupon. **Offered** is the amount the Treasury announced for sale at that auction. The **tail** is the high yield minus the [when-issued](https://helious.io/learn/when-issued-yield) yield at the bid deadline, in basis points. A positive number means the auction had to concede yield to clear, and a negative one means it stopped through. A dash in that column means no tail exists, or none was captured. Bills never have one, because they price off a discount rate and have no when-issued market. Rows before desk coverage began in July 2026 predate tail capture, and the official records publish no when-issued yield at all. The last column, the **desk recap**, is the desk's live verdict, posted the moment results cross. The desk captures each result and backfills the rest from the full auction record · [download a sample (CSV, recent auctions)](https://helious.io/auctions/52-week-bill.csv). The full history comes through the [Helious API](https://helious.io/developers/) and MCP at [api.helious.io/mcp](https://api.helious.io/mcp), with depth set by plan. Read [what a tail means](https://helious.io/learn/auction-tail) · [bid-to-cover explained](https://helious.io/learn/bid-to-cover-ratio) · [who indirect bidders are](https://helious.io/learn/indirect-bidders) · [who direct bidders are](https://helious.io/learn/direct-bidders). [Watch the next auction live →](https://helious.io/)