- High yield 2.86%
- WI level 2.87%
- Tail -1.0 basis point vs six-month average of +0.4 basis points
- Bid to cover 2.46X vs. the six-month average of 2.44X
- Dealers 16.81% vs. six-month average of 17.7%
- Directs 16.81% vs. the six-month average of 19.0%
- Indirects 66.37% vs. six-month average of 63.4%
Auction grade: B+/A-
Strong international demand made up for somewhat weak domestic demand. The auction traded through the WI level at the time of the auction by 1 basis point indicative of solid demand. The Dealers were saddled with less than average. The Bid to cover was near the 6 month average.
International buyers came to the rescue. Domestic buyers were less enthusiastic but overall, a solid auction.