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DMO consultation feedback on 3 long auctions and conventional syndication

GILTS
  • Syndication: As noted earlier there was "almost unanimous" support for a new 20-year gilt amongst GEMMs and this was also "generally recommended" by investors. A 2043 maturity was favoured by both groups.
  • 3.75% Oct-53 gilt: Investors supported "at least one" with "almost half" of GEMMs supporting two reopenings. MNI expects 1-2 auctions in the quarter.
  • 1.50% Jul-53 Green: A majority of GEMMs supported 1 reopening along with "wide support" from investors. MNI expects to see one auction in the quarter.
  • Other long-dated gilts: There was "more limited supported" from GEMMs and investors for the 1.125% Jan-39 gilt and the 1.125% Oct-73 gilts while limited support from just GEMMs for the 0.875% Jan-46 gilt.

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