- High yield 0.99%
- WI yield at 1.011%
- Tail -1.2 basis points
- bid to cover 2.81X vs six month average of 2.50X
- directs 9.39% versus 19.7% six month average
- indirect 66% versus six month average of 53.9%
- Dealers 24.6% versus 26.4% six month average
Auction grade: A
- strong demand from overseas buyers. They out bid domestic buyers who seemed to be nearly shut out.
- The dealers took less than the six month average
- The tail was negative -1.2 basis points. The average +0.2 basis points over the last six months
The higher yield was certainly an advantage. The last auction came in at 0.769%.