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APF SALES: Details

BOE
  • Solid takeup of the short-dated APF sales, despite the larger-than-previous operation size (GBP800mln versus GBP670mln previously).
  • Over 60% of the takeup was for the shortest-maturity gilt on offer, the 1.25% Jul-27 gilt with sales also of the short 5-year 1.625% Oct-28 gilt and the 4.75% Dec-30 gilt.
  • As noted above yields around 1bp lower.

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