Free Trial

3.50% Oct-25 gilt

GILT AUCTION PREVIEW
  • The DMO will hold just one auction this week with GBP4.0bln of the 2.5-year 3.50% Oct-25 gilt on offer this morning.
  • This will be the third auction of the gilt since it was launched in January.
  • The GBP4.0bln auction size this week will be in line with the launch auction size, but smaller than the GBP4.5bln auction seen on 8 March.
  • The auction on 8 March saw the widest tail on a gilt auction since October with a tail of 3.0bp (despite a still decent bid-to-cover of 2.08x). Since the auction we have not seen a tail above 0.6bp, and we would expect to see a much tighter tail at today's auction.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP1.0bln available to successful bidders 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.