26-Week Bill auction results

High discount rate, as Treasury published it. Offered is the offering amount in US dollars; indirect, direct and dealers are shares of the competitive amount accepted. Wider screens show those columns and the CUSIP.

Bills are sold at a discount to face value: the high discount rate is the highest discount rate Treasury accepted, the rate the auction "stopped at", and the investment rate states that result as an annual yield on the price paid. Bid-to-cover is the amount of bids received divided by the amount accepted. Indirect bidders place their bids through an intermediary, a dealer or, for foreign central banks, the New York Fed; direct bidders bid for their own account straight to Treasury; primary dealers are the banks and brokers that trade directly with the New York Fed, a role that includes bidding at every auction. A reopening is a later auction of a security already issued, with the same CUSIP and maturity date.

1,411 26-Week Bill auctions with published results since 1999 in Treasury's auction data; the table lists the latest 24.

Announced by Treasury, not yet held: November 2, 2026, $82.0B offered (CUSIP 912797WX1).

• Treasury auction tracker: every tenor ranked against its history
• Maturity ladder of marketable Treasury debt

• Source: U.S. Department of the Treasury. Auction results come from the Treasury Securities Auctions Data through the Fiscal Data API; an auction that dataset has not completed yet is filled from TreasuryDirect's own published results, field for field. Public domain; numbers as published.
• High rate: bills report the high discount rate, notes, bonds and TIPS the high yield, floating rate notes the high discount margin.
• Reopenings are listed with their original tenor; bills are grouped by their own term; every cash management bill shares one group, whatever its term.
• The tail against the when-issued yield is not shown: when-issued quotes come from the dealer market and are not part of Treasury's published results.