Free Trial

0.625% Jul-35

GILT AUCTION PREVIEW
  • This morning will see GBP2.5bln of the benchmark 15-year gilt on offer.
  • Since its syndicated launch in September, the 0.625% Jul-35 gilt has been reopened monthly via auction and over GBP30bln of the gilt has now been issued.
  • However, with no further auctions of the 15-year benchmark scheduled after today, we would expect to see a strong auction today.
  • Demand has remained consistent with the last three auctions seeing bid-to-covers ranging from 2.46-2.53x and tails of 0.1-0.2bp.
  • We note that in the absence of a tender announcement, today's auction will be the last conventional gilt auction of the month.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP625mln available to successful bidders via the PAOF.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.