Free Trial

#1: 0.125% Jan-28

GILT AUCTION PREVIEW
  • Gilt issuance for the week will kick off this morning with GBP3bln of the 0.125% Jan-28 gilt on offer.
  • This is the only scheduled auction for this gilt in the fiscal quarter and there are no plans to launch a new 7-year gilt in this fiscal quarter (note that the gilt will move from the medium to the short bucket later this month).
  • The GBP3bln on offer will be slightly larger than the GBP2.75bln seen in the previous four auctions of the gilt, but note that full (or close to full) takeup of the PAOF has occurred in each of the past four auctions.
  • The last five auctions have seen decent tails ranging from 0.1-0.4bp but the bid-to-cover has been more variable, ranging from 2.11-3.22x.
  • RESULTS: Results will be available shortly after the auction closes at 10:00GMT with a further GBP750mln available through the PAOF to successful bidders.

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.