Reopening
4-Week Treasury Bill auction result for November 20, 2025
The 4-Week Treasury Bill reopening held on November 20, 2025 recorded an official high rate of 3.956% and a bid-to-cover ratio of 2.75. Bid-to-cover increased from 2.73 at the preceding comparable auction.
High investment rate
3.956%
Bid-to-cover
2.75
Direct bidders
4.4%
Primary dealers
26.9%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2025-11-20 | 4W Bill · reopening | High investment rate: 3.956% | 2.75 | $110.0B | 4.4% | 61.4% | 26.9% |
| 2025-11-13 | 4W Bill · reopening | High investment rate: 3.966% | 2.73 | $110.0B | 5.5% | 59.1% | 27.4% |
| 2025-11-06 | 4W Bill · reopening | High investment rate: 3.940% | 2.73 | $110.0B | 4.4% | 56.9% | 30.8% |
| 2025-10-30 | 4W Bill · reopening | High investment rate: 3.976% | 2.64 | $110.0B | 4.6% | 56.9% | 32.2% |
| 2025-10-23 | 4W Bill · reopening | High investment rate: 4.012% | 2.73 | $110.0B | 3.3% | 60.4% | 28.4% |
| 2025-10-16 | 4W Bill · reopening | High investment rate: 4.099% | 2.79 | $110.0B | 3.3% | 62.5% | 26.1% |
| 2025-10-09 | 4W Bill · reopening | High investment rate: 4.099% | 2.92 | $110.0B | 5.5% | 56.8% | 29.7% |
| 2025-10-02 | 4W Bill · reopening | High investment rate: 4.129% | 2.67 | $105.0B | 5.3% | 53.7% | 32.6% |
| 2025-09-25 | 4W Bill · reopening | High investment rate: 4.150% | 2.61 | $100.0B | 5.4% | 52.3% | 35.6% |
| 2025-09-18 | 4W Bill · reopening | High investment rate: 4.109% | 2.71 | $100.0B | 6.4% | 56.6% | 30.4% |
| 2025-09-11 | 4W Bill · reopening | High investment rate: 4.129% | 2.64 | $100.0B | 4.4% | 59.6% | 29.3% |
| 2025-09-04 | 4W Bill · reopening | High investment rate: 4.247% | 2.78 | $100.0B | 5.8% | 56.5% | 30.9% |
| 2025-08-28 | 4W Bill · reopening | High investment rate: 4.318% | 2.68 | $100.0B | 5.3% | 56.9% | 29.0% |
| 2025-08-21 | 4W Bill · reopening | High investment rate: 4.374% | 2.61 | $100.0B | 4.5% | 57.2% | 29.7% |
| 2025-08-14 | 4W Bill · reopening | High investment rate: 4.354% | 2.67 | $100.0B | 3.6% | 56.5% | 31.4% |
| 2025-08-07 | 4W Bill · reopening | High investment rate: 4.374% | 2.82 | $100.0B | 3.2% | 59.1% | 29.4% |
| 2025-07-31 | 4W Bill · reopening | High investment rate: 4.364% | 2.63 | $95.0B | 2.9% | 63.1% | 27.5% |
| 2025-07-24 | 4W Bill · reopening | High investment rate: 4.318% | 2.69 | $95.0B | 2.7% | 63.6% | 27.3% |
| 2025-07-17 | 4W Bill · reopening | High investment rate: 4.303% | 2.91 | $90.0B | 4.4% | 71.5% | 17.3% |
| 2025-07-10 | 4W Bill · reopening | High investment rate: 4.308% | 3.08 | $80.0B | 4.7% | 68.5% | 19.2% |
| 2025-07-03 | 4W Bill · reopening | High investment rate: 4.313% | 3.26 | $55.0B | 2.5% | 69.9% | 16.6% |
| 2025-06-26 | 4W Bill · reopening | High investment rate: 4.068% | 3.06 | $60.0B | 2.5% | 67.0% | 20.0% |
| 2025-06-18 | 4W Bill · reopening | High investment rate: 4.129% | 3.15 | $65.0B | 2.7% | 71.8% | 16.5% |
| 2025-06-12 | 4W Bill · reopening | High investment rate: 4.150% | 3.22 | $65.0B | 4.6% | 73.5% | 12.1% |
4-Week Bill history page is not yet available · Official result document