- High yield 2.585%.
- WI level at the time of auction 2.596%
- Tail -1.1 basis points. The six month average is 0.1 basis points
- bid to cover 2.74X versus six month average of 2.59X
- Directs 21.4%. The six month averages 17.9%
- Indirects 66.0%. The six month average is 58.6%
- Dealers 12.6%. The six with averages 23.4%
Auction Grade: A
Highlights.
- A negative tail greater than the six month average
- Bid to cover is well above the six month average
- Both domestic and international buyers supporting the auction (directs and directs above their six month averages)
- Dealers are left with a scan 12.6% to distribute
With flight to safety flows, the auctions supports at idea.