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0.50% Jan-29

GILT AUCTION RESULTS

The LAP is marginally lower than the pre-auction mid-price with a wider (but still acceptable) tail of 0.8bp. Remember that the auction size is larger so the lower bid-to-cover and wider tail were to be expected to some extent. Overall, decent but not great auction.


0.50% Jan-29 GiltPrevious
AmountGBP3.50blnGBP2.75bln
Avg yield3.763%1.955%
Bid-to-cover1.96x2.65x
Tail0.8bp0.5bp
Avg price81.94891.218
Low price81.985
Pre-auction mid81.90991.177
Previous date16-Aug-22

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