WI at 1.567%
- tail 1.1 basis points
- high yield 1.578% vs. WI level of 1.567%
- bid to cover comes in at 2.29x vs. six-month average of 2.32x
- dealers 23% vs. six-month average of 22.6%
- directs 15.0% vs. six-month average of 12.6%
- indirects 62.0% vs. 64.8% six-month average
The 30 year bond had less demand than the 3 and 10 year auctions earlier this week. The tail was 1.1 basis points. The dealers took more than the six-month average. The bid to cover was less than the six-month average.
Overall it was a below average C- (close to D+).
