High-yield 4.942%WI level at the time of the auction 4.942%Tail 0.0 basis points versus six month average of 0.1 basis pointsBid to cover 2.68X vs six month average of 2.59XDIrects (domestic demand) 19.9% versus six month average of 18.1%Indirects(proxy for international demand 66.7% versus six month average of 67.2%Dealers (they take the residual) 13.4% versus six month average of 14.8%.
AUCTION GRADE: C+
Close to a C, but feeling generous.
This article was written by Greg Michalowski at www.forexlive.com.