- High yield 5.216%
- WI level at the time of the auction 5.212%
- Tail 0.4 basis points vs average of -0.2 basis points
- Bid to cover 2.39X vs average of 2.43X
- Directs 21.6% vs average of 22.5%
- Indirects 66.8% vs average of 67.0%
- Dealers 11.6% vs average of 10.6%
Auction Grade: C-
The Tail was above the WI level. The bid to cover was just below the average. The Dealers were saddled with more than the average as a result of slightly less than average demand from the directs (domestic) and indirects (international) buyers.
This article was written by Greg Michalowski at investinglive.com.
