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0.75% Nov-33 linker

GILT AUCTION PREVIEW
  • The DMO will kick off issuance for the week this morning with GBP1.5bln nominal of the 10-year 0.75% Nov-33 linker on offer.
  • This will be the eighth auction of this linker following its launch a year ago and the fourth auction of 2024.
  • This year’s auctions have seen bid-to-covers of 3.04x in January, 2.97x in February and 3.40x in April with auction sizes all having been at a consistent GBP1.5bln nominal.
  • We expect another strong auction today.
  • The 0.75% Nov-33 linker will be reopened again on 28 August and 24 September.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP375mln available to successful bidders through the PAOF.

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