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0.50% Oct-61 gilt

GILT AUCTION PREVIEW
  • The DMO will return to the market on Wednesday with GBP2.0bln of the 0.50% Oct-61 gilt on offer.
  • The 40-year gilt was only sold once in 2022, in October with a nominal GBP2.5bln sold with a bid-to-cover of 1.97x but a very wide ail of 4.0bp.
  • More recently in 2023 we have seen two long-dated gilt auctions: the 1.125% Jan-39 gilt on 8 February which saw a bid-to-cover of 2.42x and tail of 0.7bp as well as the 1.505 Jul-53 green gilt on 22 February which also saw a bid-to-cover of 2.42x and a tail of 0.6bp.
  • Timing: Results will be available shortly after 10:00GMT with a further GBP500mln available to successful bidders through the PAOF facility.

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