WI traded at 2.618% at auction time

  • hig yield 2.644% which is well above WI level of 2.618%
  • Bid to cover 2.13x vs six-month average of 2.25x
  • Directs 16.8% versus six-month average of 14.6%
  • Indirects 50.0% versus six-month average of 58.8%
  • primary dealers take 33.23% versus six-month average of 26.5%

Not a good auction at all with a low Bid to cover and a tail of 2.6 basis points.