- High-yield 4.913%
- WI level at the time of the auction 4.920%
- Bid to cover: 2.52X versus the six month average of 2.42X
- Tail: -0.7 basis point versus six month average of +0.7 bps
- Directs (domestic demand): 20.7% versus a six month average of 18.0%
- Indirects (international demand) 66.6% versus a six month average of 67.4%
- Dealers : 12.66% versus six month average of 14.6%.
Auction Grade: A-
Details:The bid to cover was better than the six month average. The Tail was--0.7 basis points compared to a positive tail average over the last six months of +0.7 basis points. Directs were better than the average, and international demand was modestly lower than the average.
