Catalog / Rates, Plumbing & Crypto / Data feed
Rates, Plumbing & Crypto · weekly ban:none tA

Treasury coupon auction internals (bid-to-cover, indirect/direct bidder %, tail)

Bid-to-cover ratio, % awarded to indirect bidders (foreign official+funds), stop-out yield vs WI yield (tail bps)

Feed detail
Measures
Bid-to-cover ratio, % awarded to indirect bidders (foreign official+funds), stop-out yield vs WI yield (tail bps)
Source
treasurydirect.gov/TA_WS/securities/auctioned (public JSON API)
Access
json-api
Cadence
weeklyupdates roughly weekly
Thesis
Weak indirect bidder share / large tails on 10s/30s auctions are the cleanest real-time gauge of foreign demand fatigue for US debt, ahead of yield selloffs
Maps to
UST 10y/30y yields, term premium, USD demand
Crowdedness
contested
Tier
tA
Ban-risk
ban:none
Where this stands

This is a catalogued data feed with a research idea attached, not a validated edge. Being listed here means it has a specific source and a one-sentence causal mechanism mapped to what it should move — it doesn’t mean it has cleared the five-stage validation gate (point-in-time hygiene, out-of-sample holdout, multiple-testing correction, and the portfolio-layer backstop). As of today, every score on this site is prior-only; zero signals in the catalog have been promoted to “measured” status. See the methodology page for the full validation process and current counts.

Browse the rest of Rates, Plumbing & CryptoMoney-market plumbing, funding rates, and on-chain signals — the internals of rates and crypto, not just the headline levels.