WI traded at 0.401%
- WI 0.401% at the time of the auction
- Tail -0.7 basis points
- High yield 0.394%. Versus 0.535% at the last auction
- Bid to cover 2.74x versus six-month average of 2.45X
- Dealers 19.3 % versus 26% six-month average
- Directs 20.2% versus 12.9% six-month average
- Indirects 60.4% versus 61.1% six-month average
Another decent auction. The 2 year auction earlier was excellent. The bid to cover was much higher than the six-month average. Dealers were saddled with much less than its six-month average suggestion good investment demand from investors. The tail was -0.7 basis points versus the WI level at the time of the auction.
Grade: B+/A-
