WI was trading at 1.590%

  • high yield 1.584% versus 1.59% WI level at the time of the auction
  • bid to cover 2.58x versus six month average of 2.5x
  • dealers 11.21% versus 16.7% six month average
  • directs 17.74% versus six month average of 16.6%
  • Indirects 71.05% versus six month average of 66.6%

Overall grade: B+

The bid to cover was above average, as was the Directs and Indirects. The Dealer's were saddled with less than average indicative of the decent demand from the domestic and overseas investors. There was a -0.6 BP tail also indicative of good demand