Every US Treasury auction the desk has captured is here, with the most recent shown below. Notes and bonds carry the real tail: the high yield minus the when-issued yield, in basis points. Bills carry no tail, because a discount-rate instrument has no when-issued market. They are read on bid-to-cover and on how the bidding split between indirect, direct and dealer accounts, which every row here carries too. The official records publish the stop-out yield but not the tail a desk actually reads, so this is that number, captured seconds after each result and updated automatically. If you have never read an auction result before, start here: How to read a Treasury auction result →
The record holds 1778 auctions since , and 26 of them carry a when-issued tail, out of 346 notes and bonds. The 25 most recent are in the table below, free to cite and embed with a link to this page. The downloads carry a sample of recent rows, and the full history comes through the Helious API and MCP at api.helious.io/mcp.
| DATE | TENOR | HIGH YIELD | WHEN-ISSUED | TAIL | B/C | INDIRECT | DIRECT | DEALER | VERDICT |
|---|---|---|---|---|---|---|---|---|---|
| 17-Week Bill | 4.195% | — | — | 2.79 -0.05 | 54.2% | 8.0% | 37.8% | IN LINE → | |
| 6-Week Bill | 3.980% | — | — | 2.58 -0.35 | 65.2% | 3.2% | 31.7% | IN LINE → | |
| 26-Week Bill | 4.200% | — | — | 2.76 +0.04 | 66.3% | 10.5% | 23.2% | IN LINE → | |
| 13-Week Bill | 4.085% | — | — | 2.68 -0.03 | 59.6% | 7.2% | 33.2% | IN LINE → | |
| 30-Year Bond | 5.618% | 5.617% | on the screws | 2.54 +0.13 | 72.3% | 20.9% | 6.8% | IN LINE → | |
| 8-Week Bill | 3.980% | — | — | 2.77 -0.06 | 70.3% | 6.3% | 23.4% | IN LINE → | |
| 4-Week Bill | 3.980% | — | — | 2.40 -0.43 | 57.3% | 6.1% | 36.6% | WEAK → | |
| 10-Year Note | 5.300% | 5.317% | ▼ 1.7bp through | 2.77 +0.23 | 80.3% | 17.1% | 2.5% | STRONG → | |
| 17-Week Bill | 4.105% | — | — | 3.10 +0.26 | 59.7% | 10.1% | 30.2% | STRONG → | |
| 3-Year Note | 4.932% | 4.934% | ▼ 0.2bp through | 2.62 -0.03 | 57.6% | 31.7% | 10.7% | IN LINE → | |
| 6-Week Bill | 3.945% | — | — | 2.78 -0.14 | 65.4% | 4.0% | 30.6% | IN LINE → | |
| 26-Week Bill | 4.165% | — | — | 2.79 +0.03 | 63.2% | 10.6% | 26.2% | IN LINE → | |
| 13-Week Bill | 4.050% | — | — | 2.51 -0.30 | 48.6% | 7.2% | 44.2% | WEAK → | |
| 8-Week Bill | 3.990% | — | — | 2.70 -0.20 | 56.8% | 7.1% | 36.1% | IN LINE → | |
| 4-Week Bill | 3.890% | — | — | 2.83 +0.00 | 63.9% | 4.8% | 31.4% | IN LINE → | |
| 17-Week Bill | 4.115% | — | — | 2.89 -0.02 | 57.8% | 6.0% | 36.2% | IN LINE → | |
| 52-Week Bill | 4.400% | — | — | 3.07 -0.32 | 70.9% | 4.6% | 24.6% | IN LINE → | |
| 6-Week Bill | 3.970% | — | — | 2.82 -0.12 | 67.2% | 5.1% | 27.8% | IN LINE → | |
| 26-Week Bill | 4.285% | — | — | 2.64 -0.17 | 60.3% | 9.5% | 30.2% | IN LINE → | |
| 13-Week Bill | 4.110% | — | — | 2.99 +0.20 | 66.6% | 7.1% | 26.3% | STRONG → | |
| 7-Year Note | 5.085% | 5.078% | ▲ 0.7bp tail | 2.42 -0.07 | 57.2% | 30.3% | 12.5% | IN LINE → | |
| 8-Week Bill | 3.990% | — | — | 2.76 -0.15 | 58.8% | 6.0% | 35.2% | IN LINE → | |
| 4-Week Bill | 3.850% | — | — | 2.61 -0.25 | 46.2% | 3.4% | 50.4% | WEAK → | |
| 5-Year Note | 5.033% | 5.002% | ▲ 3.1bp tail | 2.21 -0.12 | 54.3% | 29.9% | 15.8% | WEAK → | |
| 2-Year FRN | — | — | — | 2.63 -0.58 | 59.1% | 0.0% | 40.9% | WEAK → |
A negative tail means the auction stopped through the when-issued, which is strong demand, and a positive one means it tailed, which is weak. Bills carry no tail because no when-issued is published, so they are read on cover plus bidder mix instead. Per-tenor history and 12-month averages sit on the auction hubs.
