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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#2: 0.625% Oct-50
- Issuance for the week will conclude today with GBP1.75bln of the 0.625% Oct-50 gilt on offer.
- This will be the smallest auction of the gilt since its syndicated launch, and indeed the smallest 30-year auction in nominal terms since March 2019.
- Despite only being launched in June, prior to this morning's auction there is already GBP19.4bln of the 0.625% Oct-50 gilt in issue.
- After a couple of weak July auctions with tails of 1.1bp and 1.2bp respectively and bid-to-covers below 2x, the last couple of auctions of the 0.625% Oct-50 gilt have seen more respectable tails of 0.5bp and 0.3bp and bid-to-covers of 2.09x and 2.22x. The 7 Oct auction of the previous 30-year benchmark, the 1.75% Jan-49, was also successful seeing a tail of 0.2bp and a bid-to-cover of 2.07x.
- In line with the DMO's strategy to continue to build up its benchmark gilts, the 0.625% Oct-50 gilt will be on offer again on 17 November.
- RESULTS: Results will be available shortly after the auction closes at 11:30BST with an additional GBP437.5mln available to successful bidders through the PAOF until 14:30BST.
To read the full story
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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.