US auctions off $22 billion of 20 year bonds at 1.213% vs. WI at 1.218%

Author: Greg Michalowski | Category: News

WI level was at 1.218% at the auction time

  • High yield 1.213%. The last auction was at 1.185% last month
  • WI level at auction time 1.218%. 
  • Bid to cover 2.39x  vs. 4-month average of 2.46x.
  • Dealers 24% vs. a 4 month average of 23.5%.
  • Directs 15.3% vs. 4 month average of 13.5%.
  • Indirects 60.7% vs. 4 month average is 63.0%.
The yield came in lower than the WI by 0.5 basis points. Good demand.
The bid to cover was slightly lower than the 4 month average. Average demand
Dealers were saddled with about the 4 month average at 24%

Overall a C+ grade for the auction.
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