Free Trial

0.125% Mar-51 linker

GILT AUCTION PREVIEW
  • The recently launched 30-year linker will be reopened for the first time this morning with GBP600mln nominal on offer.
  • The syndicated launch on 9 February saw GBP2.25bln sold with books of GBP20.9bln, highlighting the strong pent-up demand following the conclusion of the RPI review.
  • This is the first index-linked auction of the fiscal year. The last linker auction of 2020/21 saw a smaller auction of GBP350mln of the 0.125% Nov-56 linker with a bid-to-cover of 2.17x.
  • This morning's auction will probably be followed even more closely after the recent press reports that some pension funds have started legal action against the withdrawal of the RPI calculation in 2031.
  • Timing: Results will be available shortly after the auction closes at 10:00BST.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.