Free Trial

Goldman Sachs: Shorter WAM Optimal For Gilts

GILTS

Goldman Sachs note that “the maturity of UK debt is the highest in the G10 but has been falling in recent years.”

  • “The 3-10y maturities offer the best trade-off between low cost and acceptable volatility.”
  • “This suggests to us that the DMO will continue to skew issuance towards shorter maturities more than in the past - a point reinforced by the lower domestic demand for duration in the UK curve.”
  • “It also points to ongoing pressure on Gilts vs swaps in the belly of the UK curve.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.