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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.
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Free Access#1: 0.375% Oct-26
- The DMO will launch its final new issue of the fiscal year this morning with the GBP3bln of the new 5-year 0.375% Oct-26 gilt on offer.
- Including the two linkers, this will be the 13th new gilt of the fiscal year.
- As with all of this week's auctions, we are likely to see the highest yield for this maturity in over a year.
- Demand has stayed strong for UK 5-year gilts in recent auctions with bid-to-covers all in excess of 2x this fiscal year and tails ranging from 0.1-0.4bps. Indeed, last month's auction of the 0.125% Jan-26 gilt saw the second highest bid-to-cover of the fiscal year of 2.78x (although this was before the global FI sell-off).
- Note that the gilt will be not eligible for the BoE's APF programme until there is GBP4bln nominal outstanding (which will be after the second auction of the gilt).
- Timing: Results will be available shortly after the auction closes at 10:00GMT with a further GBP750mln available to successful bidders through the PAOF.
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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.