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DMO Consultation: Mediums

GILTS
  • Investors and GEMMs both look for continued build up of the benchmarks 0.125% Jul-31 and 0.625% Jul-35. There were some calls among GEMMs to reopen 0.125% Jan-28 while investors "mentioned" 4.25% Jun-32 and 4.50% Sep-34.
  • In line with our previous expectations, we continue to look for the 0.125% Jul-31 gilt to be reopened three times in the January-March period with the 0.625% gilt to be reopened only twice. This leaves one auction unaccounted for and we think it could be any of the 0.125% Jan-28, 4.25% Jun-32 or 4.50% Sep-34 named GEMMs and investors.

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