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0.375% Oct-30

GILT AUCTION PREVIEW
  • Issuance will complete for both the week and the month today with GBP2.75bln of the 0.375% Oct-30 gilt on offer.
  • Demand remains strong around the ten-year sector with the widest tail seen at an auction of the 0.375% Oct-30 gilt measuring just 0.3bp while bid-to-cover ratios have ranged from 2.32-2.75x.
  • Last week's auction of the 0.875% Oct-29 gilt saw decent demand too, with a tail of 0.3bp and bid-to-cover of 2.38x. The 0.375% Oct-30 gilt will be on offer three more times before the end of October with the new Jul-31 gilt due to launch in November.
  • RESULTS: Results will be announced shortly after the auction closes at 10:00BST with a further GBP687.5mln available to successful bidders via the PAOF.

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