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0.375% Oct-26

GILT AUCTION PREVIEW
  • The DMO will come to the market this morning to sell GBP3.0bln of the 5-year benchmark 0.375% Oct-26 gilt.
  • This will be the sixth auction of the gilt that was launched in March and has been issued monthly since.
  • All auctions have been for the same GBP3.0bln size and have seen tails range from 0.2-0.4bp and the bid-to-cover ranging from 2.50-2.69x.
  • Auctions through August have generally remained strong and we see no reason for today's 5-year auction to be an exception.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP750mln available to successul bidders via the PAOF.

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