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#2: The DMO will return to.....>

GILT AUCTION PREVIEW: #2: The DMO will return to the market today to sell
GBP1.5bln of the 1.625% Oct-54 gilt.
- This will be the first auction of the gilt, following a launch and follow up
syndications held in May and September last year. The two most comparable gilt
auctions so far this fiscal year have been for the 1.75% Jul-57 and 1.75%
Jan-49. Both saw tight tails of 0.2bp and both saw decent bid-to-cover ratios of
3.13x and 2.40x respectively.
RESULTS: Auction results will be released shortly after the auction closes at
11:30BST with a further GBP375mln available through the PAOF to successful

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