- High yield of 3.890%
- WI 3.863%
- Tail 2.7 basis points vs. six-month average of -0.4 basis points
- bid to cover 2.33 vs. 2.57 X
- dealers 21.4% vs. six-month average of 11.7%
- directs 16.8% vs. six-month average of 19.6%
- indirects 61.9% vs. six-month average of 68.7%
Auction Grade: F
There is nothing good about this auction. Dealers are stuck with a much greater supply than normal. All components showed lackluster demand including domestic and international.
The 7 year yield spiked up to 3.899%.
