Results of the $24 billion reopening
- The notes were trading at 1.740/1.730% on the bid/ask in the when issued market
- Prior sale was 1.670%
- Bid-to-cover at 2.46 vs 2.20 -- highest since June
This was very close to expectations. The bond market has been stable today after weeks of turmoil so that likely helped out bidders.
