MNI: PBOC Sets Yuan Parity Higher At 7.1376 Fri; -0.90% Y/Y

CHINA PBOC CONDUCTS CNY1.17 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1376 FRI VS 7.1323

MNI CNB WATCH: Cut Pace Slows To 25Bps, Price Pressures Remain

MNI BRIEF: China Steel Market To Remain Subdued In August

MNI BRIEF: CNB Cuts 2W Repo Rate By 25Bps To 4.5%

Australia Jun New Loan Commitments +1.3% For Housing

More Detail On Today's CPI, BoK Likely On Hold Later In August

CPI Steady - Temporary Factors Driving For Now

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

3.50% Oct-25 gilt

GILT AUCTION PREVIEW
  • The DMO will come to the market on Tuesday to offer GBP4.5bln of the 3.50% Oct-25 gilt.
  • The gilt was launched in January in an auction that saw GBP4.0bln sold at auction (with an additional GBP441mln sold through the PAOF) with a tail of 0.9bp and a bid-to-cover of 2.23x.
  • The 3.50% Oct-25 gilt replaced the 0.25% Jan-25 gilt as the shortest-dated on-the-run gilt. The last two auctions of that gilt saw bid-to-covers of 1.89x in November and 2.11x in December with tail s of 1.8bp and 1.5bp respectively.
  • So there have been relatively wide tails at auctions of sub-3-year gilt recently.
  • This is a clear risk again ahead of this morning's auction, particularly given the larger nominal auction size.
  • Timing: Results will be available shortly after the auction closes at 10:00GMT with a further GBP1.125bln available to successful bidders through the PAOF.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.