What is a Treasury securities auction?
Treasury Bills, Notes, Bonds, and TIPS are sold at public auction. In an auction, bidders are awarded securities at the same price, which is the highest rate or yield set by the competitive bids accepted. TreasuryDirect only accepts noncompetitive bids. See Learn more about the Auction Process for more details.
Each Treasury Bill, Note, Bond, or Treasury Inflation-Protected Security (TIPS) is sold at a public auction. In Treasury auctions, all successful bidders are awarded securities at the same price, which is the price that corresponds to the highest rate or yield of the competitive bids we accept. You can find a complete explanation of the auction process in our Uniform Offering Circular, which is in the Code of Federal Regulations (CFR) at 31 CFR Part 356.
Each U.S. Treasury bill, note, bond, or Treasury Inflation-Protected Security (TIPS) is sold at a public auction. In these auctions, all successful bidders are awarded securities at the same price, which is the price that corresponds to the highest rate or yield of the competitive bids we accept. A complete explanation of the auction process can be found in our Uniform Offering Circular, which is in the Code of Federal Regulations (CFR) at 31 CFR Part 356.
