MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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

4.125% Jan-27

GILT AUCTION PREVIEW
  • The DMO will return to the market this morning to sell GBP3.75bln of the 4.125% Jan-27 gilt.
  • This will be the eighth auction of the gilt since it was launched in October as a short 5-year gilt.
  • Demand has been fairly consistent with bid-to-covers ranging from 2.08x (at launch) to 2.46x. The 2.46x was seen at the last auction four weeks ago despite this being the first auction that was for GBP3.75bln (with all other auctions being for GBP3.50bln or GBP3.25bln).
  • Tails have also been relatively consistent, ranging from 0.4-0.8bp (with 0.5bp seen at the last two auctions).
  • We note that in the FQ2 period (July to September), the DMO outlined its intentions for three out of the four short-dated gilt auctions but did not mention the 4.125% Jan-27 gilt. With over GBP31bln to be outstanding after today's auction, that this could be the last auction of the 4.125% Jan-27 gilt for some time.
  • Timing: Results will be available shortly after the auction closes at 10:00BST with a further GBP937.5mln 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.