United States 17-Week Bill Auction

Info

History

Chart

Impact:

Low

Latest Release:

Date:

Actual:

4.23%

Forecast:

Previous/Revision:

4.24%

Period:

Next Release:

Date:

Period:

What Does It Measure?

The United States 17-Week Bill Auction measures the government's ability to issue short-term debt securities, specifically the 17-week Treasury bills. This auction assesses demand for these securities, which reflects investor sentiment regarding short-term economic conditions and yields, with key indicators including the bid-to-cover ratio and the yield achieved at auction.

Frequency

These auctions are conducted weekly, typically on Mondays, with the results released shortly after the auction concludes.

Why Do Traders Care?

Traders closely monitor the 17-Week Bill Auction as it provides insight into government borrowing costs and liquidity conditions in the economy. Higher-than-expected demand can indicate strong investor confidence, potentially leading to bullish market sentiment for equities and currencies, while weaker demand may suggest caution.

What Is It Derived From?

The auction results are derived from competitive and non-competitive bids submitted by institutional and individual investors, with these bids indicating the amount they are willing to lend the government at certain interest rates. The final yield is determined by the accepted bids, and the auction typically follows standardized procedures established by the U.S. Department of the Treasury.

Description

The auction serves as an important gauge of market sentiment surrounding U.S. Treasury securities and overall economic health, reflecting investor risk appetite. The preliminary results are released immediately after the auction, providing rapid feedback on market conditions, while the final results consolidate all accepted bids a few days later.

Additional Notes

This auction acts as a coincident economic indicator, reflecting current investor behavior and sentiment towards government debt. It is often compared to other Treasury auctions and can be related to broader economic trends, with implications for the bond market and overall interest rate environment.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for USD, Bullish for Stocks. Lower than expected: Bearish for USD, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Previous
May 21, 2025	4.23%	4.24%
May 14, 2025	4.24%	4.2%
May 07, 2025	4.2%	4.19%
Apr 30, 2025	4.19%	4.21%
Apr 23, 2025	4.21%	4.225%
Apr 16, 2025	4.225%	4.25%
Apr 09, 2025	4.25%	4.2%
Apr 02, 2025	4.2%	4.2%