- High yield 3.576%
- WI level at the time of the auction 3.584%.
- Tail -0.8 basis points versus 6 month average of +0.5 basis points
- Bid to cover 2.66X versus 6 month average of 2.55X
- Directs 26.58% versus 6 month average of 20.5%
- Indirects 62.7% versus 6 month average of 64.1%
- Dealers 10.72% versus 6 month average of 15.4%
Auction Grade: A-
Solid demand from Direct investors (domestic buyers). The international demand was a touch lower than average. The dealers were saddled with less than the average.
The bid to cover was good- not great but good.
The tail of -0.8 basis points highlights buyers who are anxious to buy.
