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0.125% Nov-36 linker

GILT AUCTION PREVIEW
  • Issuance for the week will kick off for the week this morning with GBP800mln nominal of the 0.125% Nov-36 index-linked gilt on offer.
  • This will be the second auction of the linker this fiscal year, with GBP900mln nominal issued in June. That auction was successful with a bid-to-cover of 2.52x and average real yield of -2.550%.
  • Every index-linked auction since has seen the bid-to-cover exceed 2x and the most recent linker auction was even more successful with the 1.25% Nov-32 linker seeing a bid-to-cover of 3.16x.
  • We expect to see a strong auction again today.
  • RESULTS: Results will be available shortly after the auction closes at 10:00GMT with a further GBP200mln nominal available to successful bidders through the PAOF.

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