- High yield 2.943%
- WI level ahead of the auction was 2.929%
- Bid to cover 2.49X versus 2.48X 6 month average
- Tail 1.4 vs the six month average of 0.5 basis points
- Directs 18.21% vs six month average of 16.6%. Directs are a measure of domestic demand.
- Indirects 70.3% vs six month average of 69.2% Indirects are a measure of international demand
- Dealers 11.49% vs six month average of 14.2%. The dealers take the r
Auction grade: C-
The bid the cover was average. The directs and in directs were above average, but that came at the concession of a 1.4 basis point tail which was above the six month average of 0.5 basis points.