Free Trial

#2: 1.625% Oct-71

GILT AUCTION PREVIEW
  • Also this morning, the DMO will look to sell GBP1.25bln of the 50-year 1.625% Oct-71 gilt.
  • This will be the last auction of a gilt with a maturity longer than 30-years in 2021.
  • The auction size is in line with the previous three auctions held in June, July and September.
  • Those auctions saw tails range from 0.1-0.3bp and bid-to-covers range from 2.23-2.51x.
  • We expect continued strong demand and note that at the time of writing the 1.625% Oct-71 gilt with a mid-yield below 0.90% and a maturity of greater than 8-years.
  • Timing: Results will be available shortly after the auction closes at 11:30GMT with a further GBP312.5mln available via the PAOF.

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.