Free Trial
AUSSIE BONDS

Tight Ranges In Play Ahead Of Long Weekend & RBA

JGBS AUCTION

3-Month Bill Auction Results

JGBS

Flattening Holds, Rinban Plans Eyed

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

0.25% Jan-25

GILT AUCTION PREVIEW
  • The DMO is due to return to the market this morning to offer GBP3.5bln nominal of the short 3-year 0.25% Jan-25 gilt.
  • This will be the sixth auction of the gilt, and the largest nominal auction size since the launch auction in July 2021.
  • Auctions since have been for GBP3.00-3.25bln. The last two auctions have seen relatively wide tails of 1.0bp in June and 2.5bp in March respectively.
  • Bid-to-covers have never fallen below 1.9x; however we have seen bid-to-covers below 2.00x on two occasions – no other gilt has seen a bid-to-cover below 2.00x since the beginning of 2021.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP875mln available to successful bidders through the PAOF.
118 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • The DMO is due to return to the market this morning to offer GBP3.5bln nominal of the short 3-year 0.25% Jan-25 gilt.
  • This will be the sixth auction of the gilt, and the largest nominal auction size since the launch auction in July 2021.
  • Auctions since have been for GBP3.00-3.25bln. The last two auctions have seen relatively wide tails of 1.0bp in June and 2.5bp in March respectively.
  • Bid-to-covers have never fallen below 1.9x; however we have seen bid-to-covers below 2.00x on two occasions – no other gilt has seen a bid-to-cover below 2.00x since the beginning of 2021.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP875mln available to successful bidders through the PAOF.