Non competitive bids: Can someone explain how US treasuries are auctioned?

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If you are studying with Kaplan, go to page 17-18 of book 2 - Economics. It’s pretty well explained.

I believe non-competitive bidders get all the quantity they bid (usually at higher price). Then, for the rest of the issue, they will be sold at the highest price ( lowest yield ) possible so that the entire issue can be sold. Hope this helps

When Tresuries are auctioned, they receive number of yields at which different banks are ready to buy. Non-competetive bid is the process in which different banks agree to buy at the average price of all the bids received from different banks.

Cool.