MBS UPDATE: AUCTION RESULTS
By:
Matthew Graham
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Good at first glance....
- high yield at 4.541 with 16.77% at high yield, only 3 bps over current market
- median yield was under current market
- Bid To Cover at 2.54
- indirects take 7.2 bln good for 48% indirect bid
- here's historicals to see how we stacked up
But does that matter if you get stuff like this?