- High-yield 4.210%.
- WI level at the time of the auction 4.152%
- Bid to cover 2.94X vs 2.59X
- Tail 1.3 basis points versus six month average of 0.2 basis points.
- Directs 18.73% versus a six month average of 21.4%.
- Indirects 64.99% versus a six month average of 57.4%.
- Dealers 16.28% versus six-month average of 21.2%
Another strong auction led by international demand. The domestic demand was lower than the six month average. Dealers were also saddled with a lower amount historically over the last six months. The Bid the cover was very strong at 2.94X vs 2.59X average.
Overall grade: B+