- High-yield 3.661% which was equal to the WI level at the time of the auction
- WI level 3.661%
- Tail 0.0 versus a six month average of 0.4 basis points
- Bid to cover 2.36X versus a six month average of 2.35X
- Directs 19.8% versus six month average of 19.5%
- Indirects 69.12% versus us six with average of 68.5%
- Dealers 11.09% vs six with average of 11.9%
Auction Grade: C+
Highlights:
No tail. The bid to cover was right on the six month average. Directs (domestic demand) was a touch higher than the average. Indirects were marginally higher as well. Dealers were saddled with a bit lower than the average.
Overall, a bit higher than average