52-Week Treasury Bill Auction: Results, Schedule & History
{
"tenor": "52-week-bill",
"date": "2026-08-04",
"offering_usd": 52000000000,
"high_yield": 3.88,
"tail_bps": null,
"bid_to_cover": 3.62,
"indirect_pct": 70.8,
"verdict": "STRONG"
}The 52-Week Treasury Bill auction on Aug 4, 2026 put $52B on offer and stopped at a high yield of 3.88%, with a bid-to-cover of 3.62 against a 3.31 twelve-month average. Indirects took 70.8%, directs 2.3% and primary dealers 27%. Helious graded it STRONG. Captured live by Helious as the results crossed.
The 52-week bill is the longest zero-coupon point and captures a full year of expected Fed policy in a single rate. Because it only auctions every four weeks, each result is a fresh, tradeable read on how one-year rate expectations have shifted, and demand here previews appetite for the 2-year note.
Results history · recent auctions
| DATE | CUSIP | ISSUE | OFFERED | HIGH YIELD | TAIL | B/C | INDIRECTS | DIRECTS | DEALERS | DESK RECAP |
|---|---|---|---|---|---|---|---|---|---|---|
| 912797VR5 | New | $52B | 3.880% | — | 3.62 | 70.8% | 2.3% | 27.0% | STRONG → | |
| 912797VQ7 | New | $52B | 3.860% | — | 3.14 | 60.1% | 4.6% | 35.3% | IN LINE → | |
| 912797VF1 | New | $50B | 3.750% | — | 3.34 | 68.2% | 2.2% | 29.6% | — | |
| 912797UX3 | New | $50B | 3.650% | — | 3.41 | 69.1% | 3.5% | 27.5% | — | |
| 912797UE5 | New | $50B | 3.560% | — | 3.21 | 55.8% | 5.2% | 39.0% | — | |
| 912797UD7 | New | $50B | 3.485% | — | 3.43 | 64.9% | 3.5% | 31.6% | — | |
| 912797TV9 | New | $50B | 3.345% | — | 2.96 | 67.8% | 3.1% | 29.1% | — | |
| 912797TM9 | New | $50B | 3.390% | — | 3.42 | 72.3% | 2.3% | 25.4% | — | |
| 912797TC1 | New | $50B | 3.380% | — | 3.74 | 64.1% | 3.0% | 32.8% | — | |
| 912797SU2 | New | $50B | 3.460% | — | 3.08 | 68.8% | 3.5% | 27.7% | — | |
| 912797SK4 | New | $50B | 3.445% | — | 3.21 | 53.5% | 4.4% | 42.1% | — | |
| 912797SA6 | New | $50B | 3.540% | — | 2.92 | 55.2% | 4.3% | 40.5% | — |
Issue: a reopening re-auctions an existing security (same CUSIP), the norm for coupons outside refunding months; "New" sets a fresh coupon. Offered: the announced offering amount, what the Treasury put up for sale at that auction. Tail: the high yield minus the when-issued yield at the bid deadline, in basis points. Positive means the auction had to concede yield to clear, negative means it stopped through. A dash means no tail exists or none was captured: bills never have one (they price off a discount rate, with no when-issued market), and rows before desk coverage began in July 2026 predate tail capture — the official records publish no when-issued yield at all. Desk recap: the desk's live verdict, posted the moment results cross.
Desk-captured results with full auction-record backfill · 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.
Announced · upcoming
| AUCTION DATE | CUSIP | AMOUNT |
|---|---|---|
| 912797WA1 | $52B |
The amount fills in when the Treasury announces the offering, usually a few days ahead.