Auction result
3-Year Treasury Note auction result for July 11, 2023
The 3-Year Treasury Note held on July 11, 2023 recorded an official high rate of 4.534% and a bid-to-cover ratio of 2.88. Bid-to-cover increased from 2.70 at the preceding comparable auction.
High yield
4.534%
Bid-to-cover
2.88
Direct bidders
19.6%
Primary dealers
10.7%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2023-07-11 | 3Y Note | High yield: 4.534% | 2.88 | $40.0B | 19.6% | 68.8% | 10.7% |
| 2023-06-12 | 3Y Note | High yield: 4.202% | 2.70 | $40.0B | 21.7% | 61.3% | 16.7% |
| 2023-05-09 | 3Y Note | High yield: 3.695% | 2.93 | $40.0B | 10.7% | 57.5% | 10.2% |
| 2023-04-11 | 3Y Note | High yield: 3.810% | 2.59 | $40.0B | 19.7% | 57.4% | 16.6% |
| 2023-03-07 | 3Y Note | High yield: 4.635% | 2.73 | $40.0B | 20.6% | 62.1% | 16.7% |
| 2023-02-07 | 3Y Note | High yield: 4.073% | 2.33 | $40.0B | 15.0% | 42.2% | 14.2% |
| 2023-01-10 | 3Y Note | High yield: 3.977% | 2.84 | $40.0B | 13.1% | 69.2% | 17.2% |
| 2022-12-12 | 3Y Note | High yield: 4.093% | 2.55 | $40.0B | 20.2% | 61.0% | 17.6% |
| 2022-11-08 | 3Y Note | High yield: 4.605% | 2.57 | $40.0B | 12.4% | 45.4% | 15.2% |
| 2022-10-11 | 3Y Note | High yield: 4.318% | 2.57 | $40.0B | 19.3% | 52.7% | 26.7% |
| 2022-09-12 | 3Y Note | High yield: 3.564% | 2.49 | $41.0B | 21.7% | 54.3% | 23.5% |
| 2022-08-09 | 3Y Note | High yield: 3.202% | 2.50 | $42.0B | 10.5% | 38.4% | 11.9% |
| 2022-07-11 | 3Y Note | High yield: 3.093% | 2.43 | $43.0B | 17.1% | 53.2% | 17.9% |
| 2022-06-07 | 3Y Note | High yield: 2.927% | 2.45 | $44.0B | 22.1% | 48.2% | 23.3% |
| 2022-05-10 | 3Y Note | High yield: 2.809% | 2.59 | $45.0B | 10.5% | 36.2% | 11.7% |
| 2022-04-11 | 3Y Note | High yield: 2.738% | 2.48 | $46.0B | 14.0% | 42.7% | 23.2% |
| 2022-03-08 | 3Y Note | High yield: 1.775% | 2.39 | $48.0B | 15.9% | 47.0% | 22.4% |
| 2022-02-08 | 3Y Note | High yield: 1.592% | 2.45 | $50.0B | 6.9% | 42.5% | 12.6% |
| 2022-01-11 | 3Y Note | High yield: 1.237% | 2.47 | $52.0B | 13.3% | 53.0% | 19.6% |
| 2021-12-07 | 3Y Note | High yield: 1.000% | 2.43 | $54.0B | 15.6% | 45.3% | 25.9% |
| 2021-11-08 | 3Y Note | High yield: 0.750% | 2.33 | $56.0B | 11.4% | 36.4% | 15.4% |
| 2021-10-12 | 3Y Note | High yield: 0.635% | 2.36 | $58.0B | 17.5% | 41.0% | 34.2% |
| 2021-09-07 | 3Y Note | High yield: 0.447% | 2.45 | $58.0B | 17.1% | 51.2% | 22.0% |
| 2021-08-10 | 3Y Note | High yield: 0.465% | 2.54 | $58.0B | 12.7% | 38.3% | 18.1% |