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CLARIFY: #2: 1.25% Oct-41 gilt

GILT AUCTION PREVIEW
  • The 1.25% Oct-41 gilt will also be on offer today, for GBP2.25bln.
  • This keeps up the DMO's pattern of one auction per month of the gilt through the first eight months of the fiscal year.
  • Demand has remained decent as the DMO builds the 20-year benchmark with bid-to-covers ranging from 2.11-2.56x and tails from 0.2-0.4bp.
RESULTS: Results will be announced shortly after the auction closes at 11:30BST with a further GBP562.5mln available to successful bidders via the PAOF.

Note: Corrected italicized the word in the opening line to today rather than tomorrow.

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