Free Trial

DMO Consultation Minutes: Syndications

GILTS
  • Long: The DMO looks for a new long conventional gilt in the 25-35 year area in January 2024. GEMMs saw "almost unanimous" support for a new 30-year gilt with most preferring a 2054 maturity (rather than 2055) while investors "widely advocated" for a 30-year maturity but were split between a 2054 and 2055 maturity. MNI noted ahead of the consultation the potential for a July 2054 maturity.
  • Linker: Syndication intended in March 2024. A new 30-year maturity favoured - most GEMMs preferred a 2054 maturity (some preferred 2055) while investors who did express a view generally supported a 30-year maturity but a number of investors thought it was too far in advance to decide on the final maturity at this stage. Ahead of the consultation, MNI had noted that there is a gap in the linker curve for a new 30-year issue in the 2053/2054 area.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.