- High-yield 3.920%
- WI level at the time of the auction 3.925%
- Tail -0.5 basis points versus six month average of versus six month average of -0.3 basis points
- Bid to cover 2.62X versus six month average of 2.59X
- Directs (domestic buyers) 34.4% versus six month average of 20.8%
- Indirects (international buyers) 55.33% versus six month average of 67.7%
- Dealers 10.3% versus six month average of 11.4%
Auction Grade: C+
- The tail was a little lower than average which is better.
- The Bid to cover was just above the average.
- The Domestic buying was strong while the international buying was weak.
- Dealers were saddled with less thanks to the domestic buyers.
Better than average but plain vanilla and mixed.
