- High yield 4.632%
- WI level at the time of the auction 4.623%
- Tail 0.9% versus six with average of 0.1%
- Bid to cover 2.48X vs. six month average of 2.54X
- Directs (domestic demand) 13.6% versus six with average or 17.4%
- Indirects (international demand) 71.5% vs 6 month average of 68.8%
- Dealers 13.6% versus six point average of 17.4%
Auction Grade C
The good is the international demand remained strong. As a result the dealers were saddled with less than the average.
Bid to cover were close to the average.
This article was written by Greg Michalowski at www.forexlive.com.
