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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS 2-Year FRN Auction climbed to 0.12% in February 2026
FMPMonthlyReleased March 2026
US 2-Year FRN Auction climbed to 0.12% in February 2026, released March 2026, up 0.02% from January's 0.1% reading.
Latest Release
0.115000
Actual
—
Consensus
0.099000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/JPY | ▲ Direct | +0.76 | FOREX | Bullish USD | → View |
| NZD/USD | ▼ Inverse | −0.68 | FOREX | Bearish NZD | → View |
| AUD/USD | ▼ Inverse | −0.65 | FOREX | Bearish AUD | → View |
| USD/CAD | ▲ Direct | +0.59 | FOREX | Bullish USD | → View |
| EUR/USD | ▼ Inverse | −0.57 | FOREX | Bearish EUR | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
2-Year FRN Auction (United States) was reported at 0.12% in March 2026. The reading rose from the previous value of 0.1%. Trailing 12-month context per ETL data through March 2026. Over the past 12 months, the indicator has averaged 0.17%, ranging from 0.12% to 0.2% across 8 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 0.14%, down from the prior three at 0.2%. Volatility over the past year (σ 0.03%) is lower than the prior year (σ 0.05%). In March readings over the past 3 years, 2-Year FRN Auction has averaged 0.14%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with USD/JPY (Bullish USD). A secondary relationship exists with NZD/USD, negatively correlated (Bearish NZD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Chicago Fed National Activity Index (Jun 25) and Durable Goods Orders MoM (Jun 25).
Auto-generated from current model state · Refreshes on each release · Last update March 2026.
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2-Year FRN Auction - US
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About 2-Year FRN Auction — United States
DEFINITION
The 2-Year FRN Auction is a financial indicator that measures the demand for short-term debt securities issued by the government. This auction allows investors to purchase floating rate notes (FRNs) with a maturity of two years, providing a reliable and flexible investment option. The results of this auction can provide valuable insights into the current market sentiment and interest rates, making it a key indicator for financial analysts and investors.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2026): actual 0.115 %. Prior reading (Dec 2025): 0.139 %. Before that (Nov 2025): 0.168 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/JPY (Bullish USD, r=0.76) — a useful reference for forex-focused traders.
Σ
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Economic Calendar - US Events
| Tuesday, June 23, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 13:45 | US | S&P Global Manufacturing PMI | 55.7 | 55.1 | 54.8 | 55.25 | Medium |
| 13:45 | US | S&P Global Services PMI | 51.3 | 50.7 | 51 | 51.15 | Medium |
| 13:45 | US | S&P Global Composite PMI | 52.2 | 51.5 | 50.8 | 51.50 | Medium |
| 14:00 | US | Richmond Fed Manufacturing Index | 4 | 13 | 9 | 6.50 | Low |
| 14:00 | US | Richmond Fed Services Index | -1 | 14 | 11 | 5.00 | Low |
| 14:00 | US | Richmond Fed Manufacturing Shipments Index | 3 | 16 | 9 | 6.00 | Low |
| Thursday, June 25, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | Chicago Fed National Activity Index | 0.14 | 0.12 | 0.12 | Medium | |
| 12:30 | US | Durable Goods Orders MoM | 7.9 | -4.3 | -4.30 | High | |
| 12:30 | US | Core PCE Price Index MoM | 0.2 | 0.3 | 0.30 | High | |
| 12:30 | US | Initial Jobless Claims | 226 | 225 | 225.00 | Medium | |
| 12:30 | US | Personal Income MoM | 0 | 0.4 | 0.40 | High | |
| 12:30 | US | Personal Spending MoM | 0.1 | 0.1 | 0.10 | Low | |
| 12:30 | US | Durable Goods Orders Ex Transp MoM | 1.1 | 0.7 | 0.70 | Medium | |
| 12:30 | US | PCE Price Index MoM | 0.4 | 0.5 | 0.50 | Medium | |
| 12:30 | US | Non Defense Goods Orders Ex Air | -1.1 | 0.6 | 0.60 | Low | |
| 12:30 | US | Continuing Jobless Claims | 1810 | 1800 | 1784.50 | Low | |
| 12:30 | US | Core PCE Price Index YoY | 3.3 | 3.4 | 3.40 | Low | |
| 12:30 | US | Durable Goods Orders Ex Defense MoM | 8.1 | -3.9 | -3.90 | Low | |
| 12:30 | US | Jobless Claims 4-Week Average | 223.25 | 226 | 225.25 | Low | |
| 12:30 | US | PCE Price Index YoY | 3.8 | 4 | 4.00 | Medium | |
| 12:30 | US | Real Consumer Spending | 1.4 | 1.4 | 1.40 | Low | |
| 15:00 | US | Kansas Fed Composite Index | 8 | 6 | 10.00 | Low | |
| 15:00 | US | Kansas Fed Manufacturing Index | 9 | 7 | 11.50 | Low | |
| Friday, June 26, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | Wholesale Inventories MoM | 0.6 | 0.2 | 0.20 | Medium | |
| 12:30 | US | Retail Inventories Ex Autos MoM | 0.6 | 0.1 | 0.10 | Medium | |
| 12:30 | US | Goods Trade Balance | -83.01 | -85.4 | -85.40 | Medium | |
| 12:30 | US | Goods Trade Balance Adv | -83 | -85.2 | -85.20 | Medium | |