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0.125% Jan-23

GILT AUCTION PREVIEW
  • Issuance for October will kick off this morning with GBP3.25bln of the 0.125% Jan-23 gilt on offer.
  • With over GBP30bln of the gilt outstanding even before today's auction and having not been eligible for the APF programme due to its maturity of under three years, the 0.125% Jan-23 is the gilt that has the highest market holdings.
  • The 0.125% Jan-23 was only launched in April and this is the ninth (and probably last) auction of the gilt with the new Jan-24 gilt due to be launched next Tuesday, 6 October.
  • The gilt has seen strong demand with only one auction having seen a bid volume of under GBP8bln.
  • RESULTS: Results will be available shortly after the auction closes at 10:00BST with a further GBP812.5mln available to successful bidders through the PAOF.

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