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