WI was trading at 0.326% at the auction time
- High yield 0.325%. Wi was at 0.326%
- Bid to cover 2.47x vs 2.44x six month average
- Dealers 27.55% vs 33.1% vs six month average
- Indirects 54.2% versus six month average of 50.4%
- Directs 18.3% versus six month average of 18.1%
Overall a good/solid auction (grade of B) with no problems despite lower yields overall today.
- The yield came in just under the WI level.
- The bid the cover was marginally higher than the six month average.
- There was good demand overseas with 54.2% versus 50.4% average.
- As a result the dealers were saddled with less than the six month average.
All are good/solid numbers