- High yield 4.291%
- WI level at the time of the auction 4.296%
- Tail -0.5 basis points versus average of 0.0%.
- Bid to cover 2.71X versus 6 month average of 2.61X
- Indirects (overseas buyers) 64.2% versus average of 64.3%
- Directs 24.0% versus average of 21.7%
- Dealers 11.8% versus average of 13.9%
AUCTION GRADE B+
Solid demand with a negative detail. The bid to cover was higher than the average. The indirect were near the average reflective of the international demand. The domestic buyers were stronger than the average leading to a lower dealer inventory to sell I give it an B+
This article was written by Greg Michalowski at investinglive.com.