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0.875% Oct-29

GILT AUCTION PREVIEW
  • Issuance for the week will conclude this morning with GBP2.5bln of the 0.875% Oct-29 gilt on offer.
  • This will be the second auction of the gilt since April (and since the May launch of the 0.375% Oct-30 gilt). The previous auction in August saw a yield of 0.153%, bid-to-cover of 2.68x and tail of 0.3bp and demand for the two on-the-run issues that the 0.875% Oct-29 gilt sits between (the 0.125% Jan-28 and 0.375% Oct-30) has been strong since the last 0.875% Oct-29 auction. Bid-to-covers have ranged from 2.11x to 3.22x with tails of 0.1 to 0.4bp.
  • RESULTS: Results will be available shortly after the auction closes at 10:00BST with an additional GBP625mln available to successful bidders through the PAOF until 13:00BST.

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