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GILT AUCTION RESULTS: Soft 10-year gilt auction

GILT AUCTION RESULTS
  • Despite the tail being tighter than previously the lowest accepted price of 98.160 is the lower than the secondary market price for over an hour (8:56GMT according to Bloomberg data).
  • The 4.25% Jul-34 Gilt fell in priced on the results and gilt futures fell back about 8 ticks kneejerk and have now fallen a little more to trade back below levels seen pre-9am GMT too.
  • This isn't going to help sentiment following such a big increase in issuance announced last week...
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  • Despite the tail being tighter than previously the lowest accepted price of 98.160 is the lower than the secondary market price for over an hour (8:56GMT according to Bloomberg data).
  • The 4.25% Jul-34 Gilt fell in priced on the results and gilt futures fell back about 8 ticks kneejerk and have now fallen a little more to trade back below levels seen pre-9am GMT too.
  • This isn't going to help sentiment following such a big increase in issuance announced last week...