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0.125% Mar-51 linker

GILT AUCTION PREVIEW
  • This morning, the DMO will come to the market to sell GBP600mln nominal of the 30-year linker, the 0.125% Mar-51.
  • The index-linked gilt was launched via syndication in February with GBP2.25bln nominal sold, before it was reopened via auction in April for GBP600mln nominal.
  • That auction saw decent demand with a bid-to-cover of 2.31x and with 19% of the PAOF proceeds taken up.
  • We expect a strong auction again today.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP150mln nominal available to successful bidders through the PAOF.

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