Historical Year Data · 2003

5-Year Note Auction Bid-to-Cover in 2003

5-Year Note Auction Bid-to-Cover opened 2003 at 1.42 and closed at 1.92, a +35.21% move for the year. The high of 2.48 was reached on August 6, and the low of 1.42 on February 11.

Open

1.42

2003-01

1.92

8 data points

High

2.48

Aug 6

Low

1.42

Feb 11

Full Year Change

+35.21%

2002 Change

+33.33%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Feb	1.42	1.42	1.42	1.42	+0.00%
May	2.09	2.09	2.09	2.09	+0.00%
Jun	1.81	1.81	1.81	1.81	+0.00%
Aug	2.48	2.48	2.48	2.48	+0.00%
Sep	2.47	2.47	2.47	2.47	+0.00%
Oct	2.25	2.25	2.25	2.25	+0.00%
Nov	2.27	2.27	2.27	2.27	+0.00%
Dec	1.92	1.92	1.92	1.92	+0.00%

Events During 2003

1990 Japanese Bubble Collapse

Deflation

January 1990 – 2003

The Nikkei 225 peaked at 38,957 on December 29, 1989, then fell 82% over 13 years. Japan entered its "lost decades" of deflation, zero rates, and structural stagnation that still shapes global markets today.

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