- High Yield 3.891%
- WI level at the time of the auction 3.887%
- Bid to cover 2.51X vs 6-month average 2.61X
- Tail: 0.4 basis points versus six month average of 0.5 bps
- Directs (domestic buyers):29.4% vs six month average of 15.1%
- Indirects (international buyers) : 54.1% vs six month average of 66.6%
- Dealers: 16.5% vs. six-month average of 18.2%
Auction Grade: C-
The tail was near the average but still above the WI level.. The Bid to cover was below average. The Domestic buyers were greater than the average but the international buyers were lower. The Dealers were less than average.
This article was written by Greg Michalowski at www.forexlive.com.