Free Trial

#1: 0.25% Jul-31

GILT AUCTION PREVIEW
  • The DMO will kick off issuance this morning with GBP2.75bln of the 10-year 0.25% Jul-31 gilt on offer.
  • The gilt was issued via auction in November and has been reopened monthly since (and is scheduled to be tapped monthly at least until September).
  • Demand has remained very strong with no auction seeing a tail exceeding 0.2bp and the previous two auctions seeing tails of just 0.1bp.
  • At the time of writing, prevailing yields were only a couple of basis points higher than the 0.924% achieved at the last auction.
  • We would expect to see another strong auction today.
  • The next auction of the 0.25% Jul-31 gilt is scheduled for 6 July.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP687.5mln available to successful bidders via the PAOF.

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.