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DMO consultation agenda (1/3)

GILTS


Shorts (6 auctions)

  • New Oct-25 gilt: DMO again notes the possibility for a launch and potential reopening (MNI had expected the launch at least 1 reopening).
  • 4.125% Jan-27 gilt: DMO states at least 2 reopenings (we pencil in 2-3) of the 5-year gilt that was launched last month.
  • 0.50% Jan-29 gilt: MNI expects potentially 1 reopening - not mentioned by the DMO.
  • 0.375% Oct-30 gilt: Outside change of 1 reopening - not mentioned by the DMO.

Mediums (5 auctions)

  • 1.00% Jan-32: Potential final auction in January - but no mention of this by the DMO
  • New Jan-33: The DMO sees the launch and a potential reopening (MNI expects launch with at least 2 reopenings).
  • 0.875% Jul-33 Green: 1 reopening planned (MNI had seen this as 1 potential reopening).
  • 3.75% Jan-38: The recently launched 3.75% Jan-38 gilt will drop down to the medium bucket at the end of January and we look for 1-2 reopenings of the gilt in the quarter. The DMO has asked for views on the reopening of this gilt.

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