WI at auction time was at 0.193%
- WI was trading at 0.191%
- High yield 0.193% . Last auction came in at 0.170%
- Tail 0.2 basis points.
- Bid to cover 2.44x vs. six-month vs. six-month average of 2.42 times.
- Dealers 31.7% vs. average of 34.1%.
- Directs 12.6% vs. six-month average 11.7.
- Indirects 55.7% vs. six-month average of 54.2% .
Give a B- grade to the auction:
- A small 0.2 basis point tail. Negative
- Bid to cover was marginally higher at 2.44x vs 2.42x
- Dealers were not saddled with the usual amount of 34.1% (only 31.7%)
- Good direct and indirect demand
