- High yield 3.23%
- WI level 3.220%
- Tail 1.0 versus 6 month average of 0.4 basis points
- Bid to cover 2.3X versus 6 month average of 2.44X
- Dealers 20.61% versus 6-month average of 18.0%
- Direct 18.22% versus 6-month average of 19.0%
- Indirect 61.18% versus 6 month average of 63.0%
Auction Grade: D
- The tail was higher than average. Bad
- The Bid to cover was lower than average. Bad
- The Dealers were left with more than average: Bad
- The directs (domestic demand) was less than average: Bad
- The indirects (international demand) was less than average: Bad
It wasn't as bad as the 2 year, but it was sloppy and indicative of less than normal demand all around.
