Every US Treasury auction the desk has captured, 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 at all, because a discount-rate instrument has no when-issued market: they are read on bid-to-cover and the indirect / direct / dealer split, which every row here also carries. The official records publish the stop-out yield but not the tail a desk actually reads; this is that number, captured seconds after each result and updated automatically. New to it? How to read a Treasury auction result →
1772 auctions since · 15 with a when-issued tail of 347 notes and bonds · the 25 most recent shown below · free to cite and embed with a link to this page. The downloads are samples of recent rows: 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 |
|---|---|---|---|---|---|---|---|---|---|
| 7-Year Note | 4.512% | 4.512% | on the screws | 2.50 +0.01 | 60.8% | 27.0% | 12.3% | IN LINE → | |
| 8-Week Bill | 3.670% | — | — | 2.77 +0.01 | 57.3% | 3.4% | 39.3% | IN LINE → | |
| 4-Week Bill | 3.650% | — | — | 2.73 -0.01 | 66.0% | 2.5% | 31.5% | IN LINE → | |
| 5-Year Note | 4.393% | 4.391% | ▲ 0.2bp tail | 2.37 +0.05 | 61.5% | 28.4% | 10.0% | IN LINE → | |
| 2-Year FRN | — | — | — | 3.14 -0.05 | 66.6% | 0.4% | 33.1% | IN LINE → | |
| 17-Week Bill | 3.750% | — | — | 3.09 -0.05 | 60.3% | 7.1% | 32.6% | IN LINE → | |
| 2-Year Note | 4.204% | 4.208% | ▼ 0.4bp through | 2.60 -0.01 | 66.0% | 23.1% | 10.9% | IN LINE → | |
| 6-Week Bill | 3.650% | — | — | 2.71 -0.19 | 65.2% | 1.7% | 33.1% | IN LINE → | |
| 26-Week Bill | 3.790% | — | — | 3.05 +0.06 | 60.2% | 11.2% | 28.6% | IN LINE → | |
| 13-Week Bill | 3.715% | — | — | 3.08 +0.20 | 59.2% | 8.0% | 32.9% | IN LINE → | |
| 30-Year TIPS | 2.973% | — | ▼ 1.8bp through | 2.82 +0.24 | 84.4% | 13.4% | 2.1% | STRONG → | |
| 8-Week Bill | 3.655% | — | — | 3.06 +0.32 | 66.7% | 2.7% | 30.7% | STRONG → | |
| 4-Week Bill | 3.640% | — | — | 2.84 +0.13 | 65.5% | 3.3% | 31.3% | IN LINE → | |
| 20-Year Bond | 5.204% | 5.199% | ▲ 0.5bp tail | 2.53 -0.09 | 62.9% | 24.6% | 12.5% | IN LINE → | |
| 17-Week Bill | 3.750% | — | — | 3.35 +0.20 | 60.8% | 6.3% | 32.9% | IN LINE → | |
| 6-Week Bill | 3.645% | — | — | 2.97 +0.11 | 65.5% | 4.7% | 29.7% | IN LINE → | |
| 26-Week Bill | 3.780% | — | — | 2.97 -0.04 | 64.9% | 10.5% | 24.6% | IN LINE → | |
| 13-Week Bill | 3.715% | — | — | 2.86 +0.03 | 53.8% | 6.8% | 39.4% | IN LINE → | |
| 30-Year Bond | 5.216% | 5.212% | ▲ 0.4bp tail | 2.39 -0.04 | 66.8% | 21.6% | 11.5% | WEAK → | |
| 8-Week Bill | 3.665% | — | — | 2.85 +0.14 | 56.5% | 6.1% | 37.4% | IN LINE → | |
| 4-Week Bill | 3.625% | — | — | 2.77 +0.07 | 57.1% | 7.9% | 35.0% | IN LINE → | |
| 10-Year Note | 4.683% | 4.682% | on the screws | 2.53 +0.06 | 76.7% | 14.7% | 8.6% | IN LINE → | |
| 17-Week Bill | 3.755% | — | — | 3.16 +0.09 | 62.3% | 6.6% | 31.1% | IN LINE → | |
| 3-Year Note | 4.291% | 4.296% | ▼ 0.5bp through | 2.71 +0.11 | 64.2% | 24.0% | 11.7% | STRONG → | |
| 6-Week Bill | 3.670% | — | — | 2.93 +0.11 | 71.3% | 3.2% | 25.6% | IN LINE → |
A negative tail = the auction "stopped through" the when-issued (strong demand); a positive tail = it "tailed" (weak). Bills carry no tail (no published when-issued) and are read on cover + bidder mix. Per-tenor history and 12-month averages on the auction hubs.
