CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Long-end gilt purchases results due shortly after 14:45BST

GILTS
  • Note that yesterday's operation saw a low take up of GBP1.025bln (out of a maximum GBP5bln).
  • Furthermore, over half of the purchases were of the 1.25% Jul-51 gilt - the on-the-run 30-year.
  • This suggests that there has been very, very little demand from pension funds who are liability matching to sell, but that some newer positions taken on when gilts were bought at auction over the past few months have decided to sell.
  • Potentially yesterday's operation was too soon for some of the slower-moving pension funds to decide what they wanted to sell, so we could see a higher uptake today.
  • At current market prices and assuming the 70% free float limit remains, there are around GBP97.5bln of 20+ year gilts eligible for the BOE to purchase (with a maximum of GBP60bln in the upcoming operations if there is full take up in each).
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.