MNI: UK FINAL NOV SRVCS PMI 50.8 (FLASH 50.0); OCT 52.0

MNI: EUROZONE FINAL NOV SRVCS PMI 49.5 (FLASH 49.2); OCT 51.6

MNI: GERMANY FINAL NOV SRVCS PMI 49.3 (FLASH 49.4); OCT 51.6

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Weds; -1.91% Y/Y

MNI: FRANCE FINAL NOV SRVCS PMI 46.9 (FLASH 45.7); OCT 49.2

MNI: ITALY NOV SRVCS PMI 49.2 (FCAST 50.8); OCT 52.4

MNI: SPAIN NOV SRVCS PMI 53.1 (FCAST 53.3); OCT 54.9

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

#2: 1.625% Oct-54

GILT AUCTION PREVIEW
  • The DMO will also look to sell GBP1.50bln of the 1.625% Oct-54 gilt this morning.
  • Like the 3-year auction, this will be the largest auction of the 1.625% Oct-54 gilt since July.
  • However, given the higher duration of this gilt, the expected cash size of the auction is only around 7% higher than the January auction (at current prices).
  • Demand for the last two 30+ year gilts has been strong with the 0.625% Oct-50 gilt sold on 24 February with a bid-to-cover of 2.20x and a tail of 0.3bp while the 0.50% Oct-61 gilt was sold on 3 March with a bid-to-cover of 2.63x.
  • The last auction of the 1.625% Oct-54 was on 13 January and saw very strong demand with a bid-to-cover of 2.89x and a tail of 0.1bp.
  • We note that there are no scheduled sales of the 1.625% Oct-54 gilt in the April to June period (or indeed of the 1.75% Jul-57 gilt) with the DMO instead concentrating on gilts launched since 2020 (and the 1.625% Oct-71 gilt).
  • Timing: Results will be available shortly after the auction closes at 11:30GMT with a further GBP375mln available to successful bidders through the PAOF.
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

To read the full story

Close

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.