- High Yield comes in at 1.518%
- WI at time of auction 1.514%
- Tail 0.4 BPs
- Bid to cover 2.43X versus six month average of 2.52X
- Dealers 13.4% versus six month average of 13.8%
- Directs 17.8% versus six month average of 16.3%
- Indirects 68.8% vs six month average of 69.8%
Auction Grade: C-
Another average two below average auction (despite the run up in yields).
- There was a tail
- The Bid to cover was less than the average
- Domestic demand was better than normal, but international demand was a touch less than normal
- Dealers were saddled with about average
Ho hum. Not much to write home about.
