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Decent green auction

GILT AUCTION RESULTS
  • That was a decent 30-year green gilt auction, particularly after yesterday's disappointing auction of the 0.50% Jan-29 gilt.
  • The tail of 0.6bp is close to the 0.7bp tail seen at the last long-dated gilt auction (the 1.125% Jan-39 gilt on 8 February) while the LAP was above the mid-price immediately ahead of the auction.
  • The 1.50% Jul-53 Green Gilt dipped a little following the auction result but is now trading above the LAP but below the average auction price.

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