Auction result
7-Year Treasury Note auction result for October 28, 2025
The 7-Year Treasury Note held on October 28, 2025 recorded an official high rate of 3.790% and a bid-to-cover ratio of 2.46. Bid-to-cover increased from 2.40 at the preceding comparable auction.
High yield
3.790%
Bid-to-cover
2.46
Direct bidders
26.3%
Primary dealers
12.4%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2025-10-28 | 7Y Note | High yield: 3.790% | 2.46 | $44.0B | 26.3% | 55.7% | 12.4% |
| 2025-09-25 | 7Y Note | High yield: 3.953% | 2.40 | $44.0B | 29.9% | 53.4% | 11.4% |
| 2025-08-28 | 7Y Note | High yield: 3.925% | 2.49 | $44.0B | 11.4% | 69.0% | 8.7% |
| 2025-07-29 | 7Y Note | High yield: 4.092% | 2.79 | $44.0B | 31.5% | 58.2% | 3.8% |
| 2025-06-26 | 7Y Note | High yield: 4.022% | 2.53 | $44.0B | 10.6% | 69.7% | 10.6% |
| 2025-05-29 | 7Y Note | High yield: 4.194% | 2.69 | $44.0B | 20.7% | 62.7% | 4.2% |
| 2025-04-24 | 7Y Note | High yield: 4.123% | 2.55 | $44.0B | 23.8% | 55.4% | 14.3% |
| 2025-03-27 | 7Y Note | High yield: 4.233% | 2.53 | $44.0B | 25.3% | 59.3% | 12.3% |
| 2025-02-26 | 7Y Note | High yield: 4.194% | 2.64 | $44.0B | 22.8% | 59.9% | 8.0% |
| 2025-02-25 | 5Y Note · reopening | High yield: 4.123% | 2.42 | $70.0B | 13.2% | 67.8% | 9.6% |
| 2025-01-28 | 7Y Note | High yield: 4.457% | 2.64 | $44.0B | 21.8% | 63.3% | 9.3% |
| 2024-12-26 | 7Y Note | High yield: 4.532% | 2.76 | $44.0B | 2.8% | 86.8% | 9.2% |
| 2024-11-27 | 7Y Note | High yield: 4.183% | 2.71 | $44.0B | 24.2% | 59.9% | 9.3% |
| 2024-10-29 | 7Y Note | High yield: 4.215% | 2.74 | $44.0B | 20.2% | 70.6% | 7.3% |
| 2024-09-26 | 7Y Note | High yield: 3.668% | 2.63 | $44.0B | 19.8% | 69.1% | 8.7% |
| 2024-08-29 | 7Y Note | High yield: 3.770% | 2.50 | $44.0B | 10.3% | 69.3% | 12.7% |
| 2024-07-25 | 7Y Note | High yield: 4.162% | 2.64 | $44.0B | 15.9% | 70.4% | 8.4% |
| 2024-06-27 | 7Y Note | High yield: 4.276% | 2.58 | $44.0B | 17.8% | 67.2% | 11.5% |
| 2024-05-29 | 7Y Note | High yield: 4.650% | 2.43 | $44.0B | 15.2% | 63.0% | 16.0% |
| 2024-04-25 | 7Y Note | High yield: 4.716% | 2.48 | $44.0B | 20.8% | 64.6% | 13.8% |
| 2024-03-27 | 7Y Note | High yield: 4.185% | 2.61 | $43.0B | 17.4% | 69.5% | 12.8% |
| 2024-02-27 | 7Y Note | High yield: 4.327% | 2.58 | $42.0B | 14.2% | 66.4% | 14.9% |
| 2024-01-25 | 7Y Note | High yield: 4.109% | 2.57 | $41.0B | 16.9% | 68.8% | 13.9% |
| 2023-12-28 | 7Y Note | High yield: 3.859% | 2.50 | $40.0B | 19.3% | 63.3% | 16.8% |