To year WI at the time of auction was at 0.242%
- WI level at the time of auction 0.242%
- tail -1.3 basis points versus six-month average of 0.8 basis points
- High yield 2.229%
- Bid to cover 3.1X versus six-month average of 2.52X
- Dealers 15.5% versus six-month average of 32.9%
- Directs 17.8% versus six-month average of 17.2%
- Indirects 55.8% versus six-month average of 49.9%
lots of demand for the 2 year note auction has the high yield is well below the WI level of 0.242%. The auction came in at 2.229%.
The bid to cover was also strong at 3.1x. That is well above the 2.52 six-month average
Dealers were saddled with a much lower percentage than average at 15.5% versus 32.9% (6 month average)
Grade: A
