MNI Gilt Week Ahead - April 26 2021: 30y syndication this week

• After last week's bumper week of economic data and the gilt remit revision, the upcoming week will see external events largely drive UK markets with the next major event next week's MPC meeting. Having said that, there will be focus on the syndicated launch of the new 30-year gilt.
• Elsewhere this week, UK news will likely continue to focus on the vaccination programme which today has opened for 44-year-olds to book and is expected to open to those aged 40-43 later this week. The weekend press has noted that the JCVI is still looking into whether to change its guidance for under 40s regarding the AZ vaccine given that last week's yellow card data showed the prevalence of thrombo-embolic events with concurrent low platelets (i.e. the type of blood clots that have been under scrutiny) is now shown in the data to be roughly double the frequency the data had suggested at the time the JCVI recommended that under 30s be given either the Pfizer or Moderna vaccines. If a change in guidance is announced, it could slow down the UK's vaccination programme but may not have an overall impact on the relaxation of restrictions given that the most susceptible ages in the population to need hospital treatment or suffer Covid-19 severely have already received at least one dose of the vaccine.
• There will also be continued focus on politics and polling data ahead of next week's local elections, particularly given the current focus on the fall out from the Dominic Cummings sacking.
• In the full document we talk through the key points of last week's gilt remit revision.

GiltWeekAhead26042021.pdf