High Yield: 4.595% (market yield before auction: 4.59% | Previous session High Yield: 4.691%).
→ Light Tail at 0.5bps, however, higher than the average of the last 6 sessions (0.2bps)
High Yield allocation ratio: 49.16% (previous session: 72.98%)
MARKET DAILY
Market 03/25: Record $66B 2Y bonds sold amid rising public spending
US House approves additional USD 1.2 trillion government funding - fiscal deficit up to 6.4% GDP. US new home sales unexpectedly decline in February.
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