Auction result
5-Year Treasury Inflation-Protected Security auction result for April 23, 2026
The 5-Year Treasury Inflation-Protected Security held on April 23, 2026 recorded an official high rate of 1.367% and a bid-to-cover ratio of 2.57. Bid-to-cover decreased from 2.62 at the preceding comparable auction.
High yield
1.367%
Bid-to-cover
2.57
Direct bidders
23.7%
Primary dealers
7.5%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2026-04-23 | 5Y Note | High yield: 1.367% | 2.57 | $26.0B | 23.7% | 57.0% | 7.5% |
| 2025-12-18 | 4Y Note · reopening | High yield: 1.433% | 2.62 | $24.0B | 19.8% | 65.5% | 4.9% |
| 2025-10-23 | 5Y Note | High yield: 1.182% | 2.51 | $26.0B | 22.9% | 58.4% | 12.7% |
| 2025-06-17 | 4Y Note · reopening | High yield: 1.650% | 2.53 | $23.0B | 17.1% | 67.7% | 5.9% |
| 2025-04-17 | 5Y Note | High yield: 1.702% | 2.28 | $25.0B | 16.5% | 59.7% | 16.8% |
| 2024-12-19 | 4Y Note · reopening | High yield: 2.121% | 2.10 | $22.0B | 22.8% | 50.7% | 25.0% |
| 2024-10-24 | 5Y Note | High yield: 1.670% | 2.40 | $24.0B | 17.0% | 73.3% | 7.7% |
| 2024-06-20 | 4Y Note · reopening | High yield: 2.050% | 2.52 | $21.0B | 18.5% | 78.9% | 2.3% |
| 2024-04-18 | 5Y Note | High yield: 2.242% | 2.58 | $23.0B | 17.6% | 77.4% | 3.9% |
| 2023-12-21 | 4Y Note · reopening | High yield: 1.710% | 2.55 | $20.0B | 18.2% | 75.5% | 6.1% |
| 2023-10-19 | 5Y Note | High yield: 2.440% | 2.36 | $22.0B | 17.4% | 72.7% | 9.1% |
| 2023-06-22 | 4Y Note · reopening | High yield: 1.832% | 2.56 | $19.0B | 11.0% | 84.7% | 3.9% |
| 2023-04-20 | 5Y Note | High yield: 1.320% | 2.34 | $21.0B | 17.1% | 72.0% | 10.1% |
| 2022-12-22 | 4Y Note · reopening | High yield: 1.504% | 2.51 | $19.0B | 17.6% | 73.4% | 8.1% |
| 2022-10-20 | 5Y Note | High yield: 1.732% | 2.38 | $21.0B | 16.8% | 74.3% | 7.6% |
| 2022-06-23 | 4Y Note · reopening | High yield: 0.362% | 2.61 | $18.0B | 8.6% | 77.3% | 6.3% |
| 2022-04-21 | 5Y Note | High yield: -0.340% | 2.73 | $20.0B | 4.0% | 88.9% | 6.5% |
| 2021-12-22 | 4Y Note · reopening | High yield: -1.508% | 2.42 | $17.0B | 13.0% | 62.5% | 12.3% |
| 2021-10-21 | 5Y Note | High yield: -1.685% | 2.45 | $19.0B | 15.4% | 78.2% | 6.1% |
5-Year TIPS history page is not yet available · Official result document