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What was the rate at the latest 6-week Treasury bill auction?

The 6-week bill auctioned on sold at a discount rate of 3.970% (investment rate 4.044%), bid-to-cover 2.82. Next auction: .

Discount rate

3.970%

29 September 2026 · Auction results

Investment rate

4.044%

Bond-equivalent

Bid-to-cover

2.82

29 September 2026 · Auction results

Sold

$93.13 billion

$85 billion offered

When is the next 6-week bill auction?

  • 6-week bill, reopening, bids close 11:30 AM ET · $95 billion offeredNot yet held

Treasury's announcements: 6-week bill,

Tentative 6-week bill auction dates
AuctionIssueAnnouncementSettles
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Tentative: Treasury plans these dates in its quarterly refunding and may change them; amounts come with each announcement. Treasury's file: tentative auction schedule (XML).

Bid-to-cover, last 36 auctions

Bid-to-cover of the last 36 6-week bill auctions; the latest was 2.82

Bid-to-cover ratio. Shading: the middle half and the middle 80% of the auctions shown; dashed: their median.

Bid-to-cover of the last 36 6-week bill auctions; the latest was 2.822.52.83.03.33.53.8Latest 2.8220262026Bid-to-cover of the last 36 6-week bill auctions; the latest was 2.822.62.83.03.23.42.8220262026

Source: U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data. Observed .

Shares of competitive bids, grades against earlier auctions and the high-minus-median spread are computed by 500metrics from Treasury's published fields; how.

The numbers behind this chart
These auctions as a table
Bid-to-cover of the last 36 6-week bill auctions
AuctionBid-to-cover
2.82
3.03
3.16
2.93
2.85
2.71
2.97
2.93
2.93
2.93
2.79
2.84
2.74
2.71
2.91
3.12
3.25
3.28
2.71
3.01
2.80
3.07
3.14
2.88
3.04
3.57
2.89
2.98
3.02
2.98
2.88
2.82
2.75
2.96
2.83
2.64

Discount rate of the last 36 6-week bill auctions; the latest was 3.970%

Discount rate, %. Shading: the middle half and the middle 80% of the auctions shown; dashed: their median.

Discount rate of the last 36 6-week bill auctions; the latest was 3.970%3.503.603.703.803.904.00Latest 3.970%20262026Discount rate of the last 36 6-week bill auctions; the latest was 3.970%3.503.603.703.803.904.003.97020262026
The numbers behind this chart
These auctions as a table
Discount rate of the last 36 6-week bill auctions, %
AuctionDiscount rate, %
3.970
3.870
3.850
3.740
3.735
3.650
3.645
3.670
3.640
3.700
3.650
3.640
3.635
3.655
3.620
3.600
3.600
3.625
3.620
3.580
3.615
3.595
3.590
3.610
3.630
3.615
3.645
3.635
3.635
3.635
3.640
3.635
3.640
3.635
3.640
3.635

The latest auction against its own history

  • High discount rate: Highest for a 6-week bill since 14 October 2025 (49 auctions in between).
Each measure against earlier 6-week bill auctions: how many were higher and lower, and their median
MeasureThis auctionWindowHigherLowerMedian
Bid-to-cover ratio2.82Last 12 auctions9 of 123 of 122.93
Bid-to-cover ratio2.82Last 24 auctions18 of 246 of 242.93
Bid-to-cover ratio2.82All 84 since 18 February 202554 of 8428 of 842.89
High discount rate3.970Last 12 auctions0 of 1212 of 123.660
High discount rate3.970Last 24 auctions0 of 2424 of 243.638
High discount rate3.970All 84 since 18 February 202535 of 8449 of 843.850
Indirect bidders' share67.2Last 12 auctions6 of 126 of 1266.8
Indirect bidders' share67.2Last 24 auctions9 of 2415 of 2465.4
Indirect bidders' share67.2All 84 since 18 February 202510 of 8474 of 8459.0
Direct bidders' share5.1Last 12 auctions1 of 1211 of 123.3
Direct bidders' share5.1Last 24 auctions8 of 2416 of 243.8
Direct bidders' share5.1All 84 since 18 February 202541 of 8443 of 844.9
Primary dealers' share27.8Last 12 auctions8 of 124 of 1228.8
Primary dealers' share27.8Last 24 auctions18 of 246 of 2430.9
Primary dealers' share27.8All 84 since 18 February 202577 of 847 of 8435.7
High minus median, basis points4.0Last 12 auctions1 of 1210 of 123.0
High minus median, basis points4.0Last 24 auctions2 of 2418 of 243.0
High minus median, basis points4.0All 84 since 18 February 20257 of 8465 of 843.0

The table scrolls sideways; the first column stays in place.

What this number cannot tell you
  • Why it sold where it did. Results show what was bid and accepted, not the reasons behind any bid.
  • The cost over the bill's life in other terms. The discount rate is Treasury's quoting convention; the investment rate states the same result as a bond-equivalent yield.
  • Demand on another day. Bill sizes change week to week, so a bid-to-cover ratio is comparable only with care.

Every 6-week bill auction

Auctions with results since 18 February 2025: 85.

6-week bill auctions, newest first
AuctionOffered asDiscount rate, %Investment rate, %Bid-to-coverOffered, $ billionSold, $ billionIndirect, %Direct, %Dealers, %
6-Week, reopening3.9704.0442.8285.00093.13367.25.127.8
6-Week, reopening3.8703.9423.0375.00080.06666.05.428.6
6-Week, reopening3.8503.9213.1675.00081.69768.83.128.1
6-Week, reopening3.7403.8092.9375.00080.76263.03.833.2
6-Week, reopening3.7353.8032.8585.00090.12467.73.428.9
6-Week, reopening3.6503.7172.7195.00099.27965.21.733.1
6-Week, reopening3.6453.7112.9795.000101.94565.54.729.7
6-Week, reopening3.6703.7372.9395.000100.75671.33.225.6
6-Week, reopening3.6403.7062.9395.000102.53261.43.834.8
6-Week, reopening3.7003.7682.9395.000101.67672.74.522.8
6-Week, reopening3.6503.7172.7995.000100.78571.02.626.4
6-Week, reopening3.6403.7062.8495.00098.85272.41.725.9
Show 73 more rows
AuctionOffered asDiscount rate, %Investment rate, %Bid-to-coverOffered, $ billionSold, $ billionIndirect, %Direct, %Dealers, %
6-Week, reopening3.6353.7012.7490.00094.77863.52.733.8
6-Week, reopening3.6553.7222.7180.00085.18469.05.026.0
6-Week, reopening3.6203.6862.9165.00069.46465.72.332.0
6-Week, reopening3.6003.6653.1265.00070.45069.12.228.8
6-Week, reopening3.6003.6653.2565.00069.18158.75.535.8
6-Week, reopening3.6253.6913.2875.00079.75063.63.632.8
6-Week, reopening3.6203.6862.7185.00088.27849.35.745.1
6-Week, reopening3.5803.6453.0185.00090.13056.77.635.7
6-Week, reopening3.6153.6812.8080.00085.02157.05.837.1
6-Week, reopening3.5953.6603.0775.00079.75564.16.929.0
6-Week, reopening3.5903.6553.1470.00074.85774.73.521.8
6-Week, reopening3.6103.6762.8870.00075.03440.77.052.3
6-Week, reopening3.6303.6963.0470.00072.76557.55.137.4
6-Week, reopening3.6153.6813.5770.00075.10969.83.926.3
6-Week, reopening3.6453.7112.8975.00079.26448.37.344.4
6-Week, reopening3.6353.7012.9880.00083.96454.17.338.6
6-Week, reopening3.6353.7013.0285.00091.81659.64.036.3
6-Week, reopening3.6353.7012.9890.00095.12657.17.535.5
6-Week, reopening3.6403.7062.8890.00093.02455.55.139.4
6-Week, reopening3.6353.7012.8290.00093.37554.55.240.3
6-Week, reopening3.6403.7062.7590.00094.11259.05.435.7
6-Week, reopening3.6353.7012.9690.00095.24759.13.837.1
6-Week, reopening3.6403.7062.8390.00094.07162.44.732.9
6-Week, reopening3.6353.7012.6490.00094.15950.83.945.2
6-Week, reopening3.6303.6962.4285.00088.69444.24.851.0
6-Week, reopening3.5853.6502.9775.00077.45755.15.939.0
6-Week, reopening3.5603.6242.8975.00078.86348.84.247.1
6-Week, reopening3.5753.6392.9675.00079.44856.27.636.2
6-Week, reopening3.5803.6452.8775.00078.44858.16.135.8
6-Week, reopening3.6253.6912.7375.00077.64946.17.746.1
6-Week, reopening3.6503.7172.8975.00078.23461.74.833.5
6-Week, reopening3.7003.7683.1575.00077.02364.45.230.3
6-Week, reopening3.8503.9212.7185.00088.93361.25.233.6
6-Week, reopening3.8503.9222.8095.00099.61358.85.835.4
6-Week, reopening3.8903.9622.7095.000101.05961.34.234.5
6-Week, reopening3.9003.9722.6795.00099.48347.97.444.6
6-Week, reopening3.8803.9522.8795.000100.32361.54.434.1
6-Week, reopening3.9404.0132.9395.00098.29361.15.733.1
6-Week, reopening4.0104.0852.6295.00098.08859.75.434.9
6-Week, reopening4.0004.0752.6990.00094.41960.14.335.7
6-Week, reopening4.0204.0952.5885.00089.88353.75.840.5
6-Week, reopening4.0104.0852.5185.00088.47945.25.549.3
6-Week, reopening4.0404.1162.8285.00087.38859.44.935.7
6-Week, reopening4.0904.1672.7385.00087.81557.15.737.2
6-Week, reopening4.1904.2692.6485.00086.71158.35.536.2
6-Week, reopening4.2104.2902.9385.00088.68164.16.929.0
6-Week, reopening4.2454.3252.5785.00088.99746.65.747.7
6-Week, reopening4.2654.3462.4085.00090.80838.74.756.6
6-Week, reopening4.3004.3822.6085.00089.74158.83.937.4
6-Week, reopening4.2704.3512.6680.00084.78155.55.538.9
6-Week, reopening4.2604.3412.8580.00083.08065.52.931.6
6-Week, reopening4.2604.3412.9270.00072.85564.53.931.6
6-Week, reopening4.2654.3463.2750.00052.87858.96.434.7
6-Week, reopening4.3404.4232.9750.00053.37450.58.441.1
6-Week, reopening4.4204.5053.1155.00057.33360.86.332.8
6-Week, reopening4.1804.2582.7855.00056.31048.66.045.5
6-Week, reopening4.1954.2743.3255.00056.79862.74.932.4
6-Week, reopening4.2254.3053.4460.00061.30359.73.836.6
6-Week, reopening4.2354.3153.0070.00073.94454.55.540.0
6-Week, reopening4.2354.3152.9770.00074.37857.65.337.0
6-Week, reopening4.2454.3252.7770.00076.14557.85.636.6
6-Week, reopening4.2354.3162.9170.00074.24360.32.737.0
6-Week, reopening4.2304.3103.1470.00075.17161.73.734.7
6-Week, reopening4.2404.3202.8370.00073.05749.43.746.9
6-Week, reopening4.2454.3252.7470.00073.42960.73.735.6
6-Week, reopening4.2654.3462.8370.00073.93959.64.635.7
6-Week, reopening4.2454.3252.8870.00074.46665.02.732.2
6-Week, reopening4.2304.3102.9270.00070.81644.55.350.2
6-Week, reopening4.2354.3152.9170.00070.19749.34.945.8
6-Week, reopening4.2354.3152.9770.00070.70548.63.847.6
6-Week, reopening4.2404.3202.9270.00070.54757.63.039.4
6-Week, reopening4.2304.3103.0575.00078.59153.87.638.6
6-Week, reopening4.2704.3512.4980.00084.18049.45.245.5

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Sources and licence

Sources and licence

  • U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data (source). Licence: Public domain, a work of the US federal government
  • U.S. Treasury, quarterly refunding documents (source). Licence: Public domain, a work of the US federal government

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