It is possible that your Silver Steel is not round, but is lobed. So it would measure undersize when measured on a diameter, but be a snug fit in a truly round hole, although actually only making contact at three points.
If the bar was reamed with a reamer, firmly held in the Tailstock, it is possible that the reamer was a gnats whisker off centre for some reason. If it was, then some of the cutting edges would act like a boring bar, to produce an oversize hole. It is a good idea for the reamer to float so that it can follow the pilot hole without any external constraint to pull it off centre.
Howard.