WI was trading at 0.902% at the auction time

  • WI at time of auction 0.902%
  • High yield 0.904%. Tale of 0.2 basis point
  • Bid to cover 2.36X. Six month average 2.36X
  • Dealer 24.29%. Six month average 24.9%
  • Directs 18.09%. Six month average 15.9%
  • Indirects 57.62%. Six month average 59.2%

The auction grade: C

  • Small tail but positive
  • bid to cover equals six month average
  • Dealers take near the six month average
  • Indirect demand (foreign demand) is below the six month average but only marginally
  • Directs (domestic demand) has slightly better demand