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Latest Auction

Auction Date: --

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High Yield

Coupon Rate --%

Auction Amount --

Bidder Composition

Demandometer (Bid-to-Cover)

Performance Trend

Yield

Amount

Indirect %

Indirect (Foreign) %

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Direct (Domestic) %

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Dealer (Forced) %

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Bid-to-Cover

Curve Heatmap

Understanding Treasury Auctions

Treasury auctions are where the US government sells debt to fund operations. Monitoring these auctions provides critical signals about investor demand, inflation expectations, and market sentiment.

Security Types

Bills: Short-term debt (4-52 weeks). Sold at a discount; yield comes from the difference between purchase price and face value (Investment Rate).
Notes: Medium-term debt (2-10 years). Pay a fixed semi-annual coupon.
Bonds: Long-term debt (20-30 years). Pay a fixed semi-annual coupon.
TIPS: Treasury Inflation-Protected Securities. Principal adjusts with inflation (CPI).
FRNs: Floating Rate Notes. Payments rise/fall with short-term rates.
CMBs: Cash Management Bills. Irregular short-term bills for immediate cash needs.

Key Metrics

High Yield / Inv. Rate: The highest accepted yield. For Bills, use the Investment Rate (equivalent coupon yield).
Bid-to-Cover: Demand measurement. Total Bids ÷ Amount Offered.
> 2.5 is generally strong.
Indirect Bidders: Proxy for foreign central bank demand. High participation (> 65%) is bullish.
Primary Dealers: Big banks forced to buy leftovers. High % indicates weak demand (Warning sign).

Disclaimer: For Educational Purposes Only

The data provided by this Treasury Auctions Tracker is for educational and informational purposes only. It is based on public Treasury data but may not reflect real-time market conditions or corrections. Bond market data can be volatile and subject to rapid change. Spectacle Capital is not a registered investment advisor, broker-dealer, or financial analyst. The information presented here should not be considered financial advice, an offer to sell, or a solicitation of an offer to buy any securities. Always conduct your own due diligence and consult with a qualified financial professional before making investment decisions.

Treasury Auctions Tracker