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0.625% Oct-50

GILT AUCTION PREVIEW
  • Issuance for the week will conclude with GBP2.00bln of the 0.625% Oct-50 gilt this morning.
  • This will be the fourth auction of the gilt after the syndicated launch in June. The first two auctions of the gilt saw relatively wide tails of 1.1bp and 1.2bp respectively with bid-to-cover ratios of 1.68x and 1.78x. However, the last auction of the gilt was much more successful with a tail of 0.5bp and bid-to-cover of 2.09x (albeit with the smaller auction size of GBP2.00bln rather than GBP2.25bln).
  • The gilt is scheduled to be sold again via auction on the 22 October and 17 November.
  • RESULTS: Results will be announced shortly after the auction closes at 11:30BST with a further GBP500mln available to successful bidders via the PAOF.

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