Bid 2.06x vs last at 2.42x last

  • High yield 3.418% vs WI at 3.395%
  • The bid to cover was low at 2.06x vs 2.42x last
  • Direct accepted 2.9% vs 12.8% last
  • Indirect accepted 59.1% vs 64.4% last

The auction was BAD.

  • The high yield was well above the WI level at the auction time
  • The bid to cover woefully low at 2.06x vs 2.42x