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#1: 0.625% Jul-35

GILT AUCTION PREVIEW
  • This morning the 0.625% Jul-35 gilt will be on offer for GBP2.25bln.
  • This will be the first auction of the gilt after its syndicated launch six weeks ago. The syndication was successful with GBP8.0bln nominal being issued at a price of 100.789 and yield of 0.570% with books of GBP76bln recorded.
  • The 0.625% Jul-35 remains cheaper than its high couponed peers with the yield on the 4.50% Sep-34 gilt 11.9bp lower and the yield on the 4.25% Mar-36 gilt 3.6bp lower at the time of writing.
  • The 0.625% Jul-35 gilt is due to be sold again via auction on 18 November.
  • RESULTS: Results will be available shortly after the auction closes at 10:00BST with an additional GBP562.5mln available to successful bidders through the PAOF until 13:00BST.

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