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GILT AUCTION RESULTS: Another strong 20-year gilt auction

GILT AUCTION RESULTS

Another strong 20-year gilt auction (as we had expected in our preview). 0.1bp tail today with every tail since the gilt was launched between 0.1-0.4bp.

  • The bid-to-cover was a strong 3.37x too.
  • Respectable premium for the LAP vs the pre-auction mid-price too.
  • The 4.75% Oct-43 gilt is now trading above the average price of the auction.
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Another strong 20-year gilt auction (as we had expected in our preview). 0.1bp tail today with every tail since the gilt was launched between 0.1-0.4bp.

  • The bid-to-cover was a strong 3.37x too.
  • Respectable premium for the LAP vs the pre-auction mid-price too.
  • The 4.75% Oct-43 gilt is now trading above the average price of the auction.