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1.25% Jul-51

GILT AUCTION RESULTS

Relatively wide tail of 1.5bp (although much lower than last week's 4.0bp on the 40-year gilt auction). However, the LAP was actually above the pre-auction mid-price - which fell on the back of the BOE's denial of the QT delay story just ahead of the auction close.

1.25% Jul-51 GiltPrevious
AmountGBP2.50blnGBP1.75bln
Avg yield4.409%2.360%
Bid-to-cover2.13x2.52x
Tail1.5bp0.2bp
Avg price48.76876.804
Low price48.612
Pre-auction mid48.60676.627
Previous date09-Aug-22

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