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0.125% Jan-28 gilt

GILT AUCTION PREVIEW
  • GBP2.75bln of the 0.125% Jan-28 gilt will be on offer this morning, concluding issuance for the week.
  • This will be the fourth auction of the gilt and the auction amount is smaller than both the launch auction size of GBP3.25bln and the two follow up auctions of GBP3.00bln. Tails have been relatively wide ranging from 0.4-0.7bp with bid-to-cover ratios between 1.84x-2.15x, although the previous auction was the most successful to date.
  • The gilt will be on offer twice more before the end of November – on 29 September and on 3 November.
  • RESULTS: Results will be announced shortly after the auction closes at 10:00BST with a further GBP687.5mln available to successful bidders via the PAOF.

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