High-yield 3.504%WI level at the time of the auction 3.503%Tail 0.1 basis points Bid to cover 2.59X versus 6 month average of 2.58XDirects 34.7% versus 6 month average of 30.1%Indirects 53.7% versus 6 month average of 58.4% Dealers 11.6% versus 6 month average of 11.5%
Auction Grade: C
Nothing great or bad with the auction. Domestic demand was higher but international demand was lower than expectations.The treasury will auction off 5 year notes at 1 PM
This article was written by Greg Michalowski at investinglive.com.