Tail of 0.4 basis points
- WI yield at time of auction was 0.207%. Tail of 0.4 basis points
- High yield of 0.211% vs. prior auction of 0.25%
- Bid to cover 2.28x vs. six-month average of 2.4x
- Dealers take 34.88% vs. six-month average of 25.5%
- Directs 15.9% vs. six-month average of 14.2%
- Indirects 49.3% vs. six-month average of 60.3%
A sloppy auction with a 0.4 basis point tail, bid to cover that was less than the six-month average, dealers saddled with a higher percentage of the auction.
Grade: D
