- High-yield 4.117%.
- Tail 0.3 basis points versus 6 month average of -0.9 basis points.
- Bid to cover 2.48X versus 6 month average up 2.57X.
- Directs 24.1% vs 6 month average of 16.3%.
- Indirects 66.8% versus 6 month average of 73.7%
- Dealers 9.09% vs 6 month average of 10.0%
Auction grade C
The positive tail does not compare to the six-month average. The bid to cover was less than the six-month average as well. The good news is that the domestic demand was very strong at 24.1% and the dealers were left with less than average, but the indirects were less than average.
