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TYZ1 129.50 Puts Blocked

0% Jan-29 DSL

DUTCH AUCTION PREVIEW
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  • The DSTA will come to the market this morning to launch the new long 7-year 0% Jan-29 DSL with E3-5bln on offer.
  • This will be the third new DSL to be launched in 2021 (following the syndicated launches of the 10-year 0% Jul-31 DSL in February and the 0% Jan-38 DSL in April).
  • This will be the first new bond to be launched at conventional auction (rather than DDA) since the previous short 7-year issue, 0% Jan-27 DSL, launched in May 2020.
  • Dutch auctions have generally passed off very smoothly and we expect another strong auction today.
  • Timing: Results will be available shortly after the auction closes at 9:00BST/10:00CET.