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Vol. I, No. 6 Afternoon Edition

The Fed Gazette

A civic journal of money and credit

Live Federal Reserve rates, FOMC decisions, speeches, and Treasury data, with every figure copied from the agency that published it.

Treasury data

Treasury Bill Auction Results: 4-Week to 52-Week Bills

The most recent Treasury bill auction in the snapshot was the 6-Week Treasury bill on Oct 6, 2026, with a high discount rate of 3.945% and a bid-to-cover ratio of 2.780, according to the Treasury’s Fiscal Data auction file.

Source: U.S. Department of the Treasury, Fiscal Data, Treasury securities auctions · Published · Updated

Recent Treasury bill auction results copied from Fiscal Data, with the high discount rate and bid-to-cover over time and a page for each term.

Treasury Bill auction rates and bid-to-cover over time

High discount rate at Treasury bill auctions

One point per auction, percent, as Treasury published it. A bill is sold at a discount, and this is the highest discount rate accepted. Auctions of other terms are in the table.

3.00%3.50%4.00%4.50%Jan 26Apr 26Jul 26Oct 263.00%3.50%4.00%4.50%Jan 26Apr 26Jul 26Oct 26
0.00%2.00%4.00%6.00%202220232024202520260.00%2.00%4.00%6.00%20222023202420252026
0.00%2.00%4.00%6.00%202220232024202520260.00%2.00%4.00%6.00%20222023202420252026
  • 4-Week 3.890% Oct 1, 2026
  • 13-Week 4.050% Oct 5, 2026
  • 26-Week 4.165% Oct 5, 2026
  • 52-Week 4.400% Sep 29, 2026

Source: U.S. Department of the Treasury, Fiscal Data, Treasury securities auctions, standard terms · as of · retrieved

Data
High discount rate in percent for the most recent auctions of 4-Week
Auction dateHigh discount rate
Oct 1, 20263.890%
Sep 24, 20263.850%
Sep 17, 20263.820%
Sep 10, 20263.775%
Sep 3, 20263.700%
Aug 27, 20263.650%
Aug 20, 20263.640%
Aug 13, 20263.625%
Aug 6, 20263.640%
Jul 30, 20263.630%
Jul 23, 20263.730%
Jul 16, 20263.660%
Bid-to-cover at Treasury bill auctions

One point per auction. The ratio is the figure Treasury published, shown to three decimal places. A higher ratio means more bids were received for each dollar sold.

2.002.503.003.504.00Jan 26Apr 26Jul 26Oct 262.002.503.003.504.00Jan 26Apr 26Jul 26Oct 26
2.003.004.005.006.00202220232024202520262.003.004.005.006.0020222023202420252026
2.003.004.005.006.00202220232024202520262.003.004.005.006.0020222023202420252026
  • 4-Week 2.830 Oct 1, 2026
  • 13-Week 2.510 Oct 5, 2026
  • 26-Week 2.790 Oct 5, 2026
  • 52-Week 3.070 Sep 29, 2026

Source: U.S. Department of the Treasury, Fiscal Data, Treasury securities auctions, standard terms · as of · retrieved

Data
Bid-to-cover for the most recent auctions of 4-Week
Auction dateBid-to-cover
Oct 1, 20262.830
Sep 24, 20262.610
Sep 17, 20263.020
Sep 10, 20262.810
Sep 3, 20262.970
Aug 27, 20262.730
Aug 20, 20262.840
Aug 13, 20262.770
Aug 6, 20262.680
Jul 30, 20262.800
Jul 23, 20262.790
Jul 16, 20262.570

Treasury Bill results by term

Recent Treasury bill auctions

Auction dateSecurityCUSIPOffering amountHigh rate or yieldBid-to-cover
Oct 6, 20266-Week Bill912797UZ8$95,000,000,0003.945%2.780
Oct 5, 202626-Week Bill912797WU7$82,000,000,0004.165%2.790
Oct 5, 202613-Week Bill912797VS3$95,000,000,0004.050%2.510
Oct 1, 20268-Week Bill912797VZ7$95,000,000,0003.990%2.700
Oct 1, 20264-Week Bill912797VP9$100,000,000,0003.890%2.830
Sep 30, 202617-Week Bill912797WS2$75,000,000,0004.115%2.890
Sep 29, 202652-Week Bill912797WJ2$54,000,000,0004.400%3.070
Sep 29, 20266-Week Bill912797UY1$85,000,000,0003.970%2.820
Sep 28, 202626-Week Bill912797WM5$82,000,000,0004.285%2.640
Sep 28, 202613-Week Bill912797VJ3$95,000,000,0004.110%2.990
Sep 24, 20268-Week Bill912797VY0$85,000,000,0003.990%2.760
Sep 24, 20264-Week Bill912797VN4$90,000,000,0003.850%2.610
Sep 23, 202617-Week Bill912797WR4$72,000,000,0004.135%2.810
Sep 22, 20266-Week Bill912797UM7$75,000,000,0003.870%3.030
Sep 21, 202626-Week Bill912797WL7$79,000,000,0004.155%2.620
Sep 21, 202613-Week Bill912797TC1$92,000,000,0004.015%2.770
Sep 17, 20268-Week Bill912797VX2$85,000,000,0003.920%2.940
Sep 17, 20264-Week Bill912797VM6$90,000,000,0003.820%3.020
Sep 16, 202617-Week Bill912797WQ6$72,000,000,0004.030%2.720
Sep 15, 20266-Week Bill912797SK4$75,000,000,0003.850%3.160
Sep 14, 202613-Week Bill912797VH7$92,000,000,0003.970%2.640
Sep 14, 202626-Week Bill912797UD7$79,000,000,0004.060%2.740
Sep 10, 20268-Week Bill912797VW4$85,000,000,0003.845%2.820
Sep 10, 20264-Week Bill912797VL8$90,000,000,0003.775%2.810
Sep 9, 202617-Week Bill912797WP8$72,000,000,0003.895%2.730

As of Oct 6, 2026 · Rates and bid-to-cover are shown to three decimal places. Blank cells are fields the feed left empty · U.S. Department of the Treasury · Fiscal Data, Treasury securities auctions · Retrieved

How Treasury bills are auctioned, in plain English

The Treasury borrows by selling bills, notes, and bonds at auction on a published schedule. Investors bid, the Treasury accepts bids from the lowest rate upward until it has raised the amount offered, and the results are published as soon as the auction closes.

Offering amount
How many dollars of the security the Treasury offered at that auction.
High discount rate
For a bill, the highest discount rate accepted at the auction. A bill is sold below its face value, and the discount rate expresses that gap as a yearly rate.
Bid-to-cover
The ratio Treasury publishes for demand at the auction: bids received compared with the amount sold. A higher ratio means more bids for each dollar offered. This paper shows the published ratio to three decimal places and does not compute it.
CUSIP
The nine-character identifier of the security.

Treasury Bill auction questions answered

What were the latest Treasury bill auction results?

The most recent Treasury bill auction in the snapshot was the 6-Week Treasury bill on Oct 6, 2026, with a high discount rate of 3.945% and a bid-to-cover ratio of 2.780, according to the Treasury’s Fiscal Data auction file.

Which auction results does this page show?

The results in the Treasury’s Fiscal Data auction file, for bills, notes, and bonds. Treasury also auctions inflation-protected securities and floating rate notes; this page lists only what its snapshot holds.

Why do some auctions have an odd term, like 9-Year 11-Month?

The Treasury sometimes sells more of an existing security, called a reopening, and labels it with the time left until it matures. The table shows the term exactly as the feed labels it.