Ask Helious about the 17-Week Treasury Bill auction
{
"tenor": "17-week-bill",
"date": "2026-10-07",
"offering_usd": 75000000000,
"high_yield": 4.105,
"tail_bps": null,
"bid_to_cover": 3.1,
"indirect_pct": 59.7,
"verdict": "STRONG"
}The 17-Week Treasury Bill auction on Oct 7, 2026 put $75B on offer and stopped at a high yield of 4.105%. The bid-to-cover was 3.1, against a twelve-month average of 3.03. Indirects took 59.7%, directs 10.1% and primary dealers 30.2%. That stop is 1.0bp below the Sep 30, 2026 auction. Helious captured the result live as it crossed and graded it STRONG.
The 17-week became a benchmark tenor in 2022, and it is where Treasury goes when the government needs cash in a hurry. Watch the sizes before you even get to the rate, because they tell you how much financing pressure the government is under. The rate itself fills the gap between the 3-month and the 6-month, the stretch of the curve where the next two FOMC meetings get priced.
| DATE | CUSIP | ISSUE | OFFERED | HIGH YIELD | TAIL | B/C | INDIRECTS | DIRECTS | DEALERS | DESK RECAP |
|---|---|---|---|---|---|---|---|---|---|---|
| 912797WY9 | New | $75B | 4.105% | — | 3.10 | 59.7% | 10.1% | 30.2% | STRONG → | |
| 912797WS2 | New | $75B | 4.115% | — | 2.89 | 57.8% | 6.0% | 36.2% | IN LINE → | |
| 912797WR4 | New | $72B | 4.135% | — | 2.81 | 55.1% | 10.1% | 34.7% | IN LINE → | |
| 912797WQ6 | New | $72B | 4.030% | — | 2.72 | 52.4% | 5.3% | 42.3% | WEAK → | |
| 912797WP8 | New | $72B | 3.895% | — | 2.73 | 43.7% | 8.2% | 48.1% | WEAK → | |
| 912797WN3 | New | $72B | 3.855% | — | 2.78 | 51.2% | 6.7% | 42.1% | WEAK → | |
| 912797WH6 | New | $72B | 3.750% | — | 3.09 | 60.3% | 7.1% | 32.6% | IN LINE → | |
| 912797WG8 | New | $72B | 3.750% | — | 3.35 | 60.8% | 6.3% | 32.9% | IN LINE → | |
| 912797WF0 | New | $72B | 3.755% | — | 3.16 | 62.3% | 6.6% | 31.1% | IN LINE → | |
| 912797WE3 | New | $72B | 3.785% | — | 3.19 | 64.6% | 6.2% | 29.3% | STRONG → | |
| 912797VZ7 | New | $72B | 3.875% | — | 3.04 | 57.6% | 8.4% | 33.9% | IN LINE → | |
| 912797VY0 | New | $72B | 3.845% | — | 2.76 | 53.1% | 5.6% | 41.3% | IN LINE → |
The issue column says which kind of auction it was. A reopening re-auctions a security that already exists, under the same CUSIP, and that is the norm for coupons outside refunding months. "New" sets a fresh coupon. Offered is the amount the Treasury announced for sale at that auction. The tail is the high yield minus the when-issued yield at the bid deadline, in basis points. A positive number means the auction had to concede yield to clear, and a negative one means it stopped through. A dash in that column means no tail exists, or none was captured. Bills never have one, because they price off a discount rate and have no when-issued market. Rows before desk coverage began in July 2026 predate tail capture, and the official records publish no when-issued yield at all. The last column, the desk recap, is the desk's live verdict, posted the moment results cross.
The desk captures each result and backfills the rest from the full auction record · download a sample (CSV, recent auctions). The full history comes through the Helious API and MCP at api.helious.io/mcp, with depth set by plan. Read what a tail means · bid-to-cover explained · who indirect bidders are · who direct bidders are.
| AUCTION DATE | CUSIP | AMOUNT |
|---|---|---|
| 912797WZ6 | $75B |
The amount fills in when the Treasury announces the offering, usually a few days ahead.