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GILT AUCTION RESULTS: Another solid 3-year auction

GILT AUCTION RESULTS
  • Another solid 3-year auction - with a bid-to-cover of slightly higher than last month (albeit with a slightly smaller auction size so bids were actually a little lower). The tail of 0.3bp was tight again and the lowest accepted price (LAP) was above the pre-auction mid-price.
  • The average price of 99.263 was higher than seen for the 3.75% Mar-27 gilt since 8:30BST.

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