MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1877 Fri; -1.39% Y/Y

MNI BRIEF: Japan Nov Factory Output Hits 2nd Straight Rise

MNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks

MNI BRIEF: China Sees Progress On EU EV Deal

MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI JAPAN NOV TOKYO CORE CPI +2.2% Y/Y; OCT +1.8%

MNI: GERMANY NOVEMBER FLASH HICP -0.7% M/M (FCST: -0.5%)

MNI: GERMANY NOV CPI +2.2% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GILT AUCTION PREVIEW: 4.375% Mar-28 Gilt

GILT AUCTION PREVIEW
CEEMEABulletUKGlobalFixed Income BulletsRegionMarkets
  • The DMO will return to the market this morning to launch the new long 3-year 4.375% Mar-28 gilt for GBP4.0bln.
  • The gilt replaces the 3.75% Mar-27 gilt as the on-the-run issue (which was launched in January).
  • All eight auctions of the 3.75% Mar-27 gilt saw auction sizes of GBP3.75-4.00bln, bid-to-covers in excess of 3x (ranging from 3.01-3.68bp, 3.29x mean) but tails have been a bit more variable ranging from 0.3-0.6bp (0.6bp last).
  • We see a similarly strong volume of demand at the launch today, but are again wary of a relatively wide tail.
  • Timing: Results will be published shortly after the auction window closes at 10:00GMT with a further GBP1.0bln available to successful bidders via the PAOF.
113 words

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.
  • The DMO will return to the market this morning to launch the new long 3-year 4.375% Mar-28 gilt for GBP4.0bln.
  • The gilt replaces the 3.75% Mar-27 gilt as the on-the-run issue (which was launched in January).
  • All eight auctions of the 3.75% Mar-27 gilt saw auction sizes of GBP3.75-4.00bln, bid-to-covers in excess of 3x (ranging from 3.01-3.68bp, 3.29x mean) but tails have been a bit more variable ranging from 0.3-0.6bp (0.6bp last).
  • We see a similarly strong volume of demand at the launch today, but are again wary of a relatively wide tail.
  • Timing: Results will be published shortly after the auction window closes at 10:00GMT with a further GBP1.0bln available to successful bidders via the PAOF.