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Treasury auctions · 8-week bill · highs and lows

What were the highest and lowest results at 8-week Treasury bill auctions?

As of , the highest bid-to-cover ratio at a 8-week bill auction since was 4.46 on and the lowest 2.26 on .

Last updated . This page normally updates every week; the latest update is late.

Bid-to-cover ratio

Highest 4.46 on ; lowest 2.26 on .

Data from .

Low 2.26 Midpoint 3.360 High 4.46

High discount rate

Highest 5.400% on ; lowest 0.000% on .

Data from .

Low 0.000% Midpoint 2.7000% High 5.400%

Indirect bidders' share

Highest 82.7% on ; lowest 16.5% on .

Data from .

Low 16.5% Midpoint 49.60% High 82.7%

Direct bidders' share

Highest 41.1% on ; lowest 0.0% at 3 auctions, the latest on .

Data from .

Low 0.0% Midpoint 20.55% High 41.1%

Primary dealers' share

Highest 80.3% on ; lowest 16.2% on .

Data from .

Low 16.2% Midpoint 48.25% High 80.3%

Amount offered

Largest $105 billion at 2 auctions, the latest on ; smallest $25 billion at 16 auctions, the latest on .

Data from .

Low $25 billion Midpoint $65.0 billion High $105 billion

The numbers behind the chart

What were the highest and lowest of every measure?With the latest day and how many auctions share each
MeasureHighestLatest dayAuctions at itLowestLatest dayAuctions at it
Bid-to-cover ratio4.4612.261
High discount rate5.400%10.000%1
Indirect bidders' share82.7%116.5%1
Direct bidders' share41.1%10.0%3
Primary dealers' share80.3%116.2%1
Amount offered$105 billion2$25 billion16

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

Which auctions share a high or a low?Equal as printed
  • Direct bidders' share, lowest 0.0%: , , .
  • Amount offered, largest $105 billion: , .
  • Amount offered, smallest $25 billion: , , , , , , , and 8 auctions before them.

Two auctions share a value when it prints the same: a ratio to two places, a rate to three, a share to one decimal, an amount to the dollar.

What do the figures leave out, and how are they cited?Limits, dates and how to cite

Auctions of exactly twenty-five million dollars, taken only by primary dealers, are left out of these comparisons.

The amount offered is compared across new issues and reopenings here: this page lists the largest and smallest amounts, not a run of like with like. Single auctions have their own pages where Treasury published the bidder amounts; a bill auction has none.

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 to cite this

U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, through 15 October 2026. Compiled by 500metrics, "What were the highest and lowest results at 8-week Treasury bill auctions?", https://500metrics.com/treasury/auctions/8-week-bill/records.

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