Auction result
2-Year Treasury Note auction result for November 24, 2025
The 2-Year Treasury Note held on November 24, 2025 recorded an official high rate of 3.489% and a bid-to-cover ratio of 2.68. Bid-to-cover increased from 2.59 at the preceding comparable auction.
High yield
3.489%
Bid-to-cover
2.68
Direct bidders
27.5%
Primary dealers
10.0%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2025-11-24 | 2Y Note | High yield: 3.489% | 2.68 | $69.0B | 27.5% | 51.9% | 10.0% |
| 2025-10-27 | 2Y Note | High yield: 3.504% | 2.59 | $69.0B | 32.6% | 50.3% | 10.9% |
| 2025-09-23 | 2Y Note | High yield: 3.571% | 2.51 | $69.0B | 29.0% | 54.5% | 10.8% |
| 2025-08-26 | 2Y Note | High yield: 3.641% | 2.69 | $69.0B | 29.3% | 50.5% | 8.6% |
| 2025-07-28 | 2Y Note | High yield: 3.920% | 2.62 | $69.0B | 31.9% | 51.4% | 9.6% |
| 2025-06-24 | 2Y Note | High yield: 3.786% | 2.58 | $69.0B | 23.8% | 54.8% | 11.9% |
| 2025-05-27 | 2Y Note | High yield: 3.955% | 2.57 | $69.0B | 22.9% | 55.5% | 9.2% |
| 2025-04-22 | 2Y Note | High yield: 3.795% | 2.52 | $69.0B | 28.0% | 52.3% | 12.8% |
| 2025-03-25 | 2Y Note | High yield: 3.984% | 2.66 | $69.0B | 13.1% | 73.0% | 10.3% |
| 2025-02-24 | 2Y Note | High yield: 4.169% | 2.56 | $69.0B | 6.9% | 77.0% | 6.2% |
| 2025-01-27 | 2Y Note | High yield: 4.211% | 2.66 | $69.0B | 19.9% | 60.8% | 12.8% |
| 2024-12-23 | 2Y Note | High yield: 4.335% | 2.73 | $69.0B | 6.5% | 80.6% | 11.1% |
| 2024-11-25 | 2Y Note | High yield: 4.274% | 2.77 | $69.0B | 17.8% | 66.4% | 8.5% |
| 2024-10-28 | 2Y Note | High yield: 4.130% | 2.50 | $69.0B | 23.3% | 56.8% | 17.5% |
| 2024-09-24 | 2Y Note | High yield: 3.520% | 2.59 | $69.0B | 19.0% | 65.5% | 12.4% |
| 2024-08-27 | 2Y Note | High yield: 3.874% | 2.68 | $69.0B | 17.5% | 63.1% | 10.9% |
| 2024-07-23 | 2Y Note | High yield: 4.434% | 2.81 | $69.0B | 13.5% | 71.8% | 8.4% |
| 2024-06-25 | 2Y Note | High yield: 4.706% | 2.75 | $69.0B | 20.0% | 62.5% | 12.9% |
| 2024-05-28 | 2Y Note | High yield: 4.917% | 2.41 | $69.0B | 23.8% | 54.1% | 15.5% |
| 2024-04-23 | 2Y Note | High yield: 4.898% | 2.66 | $69.0B | 18.3% | 64.9% | 14.8% |
| 2024-03-25 | 2Y Note | High yield: 4.595% | 2.62 | $66.0B | 20.6% | 65.0% | 13.2% |
| 2024-02-26 | 2Y Note | High yield: 4.691% | 2.49 | $63.0B | 19.1% | 61.8% | 14.0% |
| 2024-01-23 | 2Y Note | High yield: 4.365% | 2.57 | $60.0B | 19.7% | 64.7% | 14.7% |
| 2023-12-26 | 2Y Note | High yield: 4.314% | 2.68 | $57.0B | 19.3% | 61.1% | 18.4% |