WI is at 1.172% at auction time
- WI was at 1.172% at auction time
- High yield 1.188%. Tail of 1.6 basis points
- Bid to cover 2.45x vs six-month average of 2.59x
- Dealers take 44.5% vs 29.4 six-month average
- Indirects 46.2% versus 49.1%
- Directs take 9.3% versus 20.7 six-month average
Bad auction at low yields.
- The bid to cover was lower than the six-month average
- The Dealer took a whopping 44.5% of the supply.
- There was a high 1.6 tail above the pre-auction WI yield of 1.172%.
UGLY.