Free Trial

MNI ANALYSIS: Gilt Issuance April – June

  • The gilt auction calendar for the April to June period, came in broadly in line with MNI's expectations.
  • See page 2 of the PDF for the full auction calendar including our expectations of auction sizes.
  • The DMO has left the option to decide what new linker it launches via syndication in May and broadened the range from 15-25 years (as opposed to the 20-25 years it had mentioned ahead of the consultation).
  • MNI expects this could be because there was demand for both a 2039 and a 2043/2045 linker. Our base case would be we get a 2039 and 2045 launched at the next two linker syndications but that the DMO will look more into the demand for both to decide which is launched first.
For the full PDF document including calendar, please click the link below:

DMO_Calendar_FQ1_2021.pdf

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.