CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

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

New 1.00% Jan-32

GILT AUCTION PREVIEW
  • The DMO will come to the market this morning to launch the new 10-year 1.00% Jan-32 gilt for GBP2.25bln.
  • This will become the 10-year on-the-run gilt, replacing the 0.25% Jul-31 gilt which has now has GBP39.0bln outstanding.
  • Tails have been widening on gilt auction recently, but we note that the 0.25% Jul-31 gilt never saw a tail wider than 0.2bp and with the relatively small auction size of GBP2.25bln (smaller than all auction of the 0.25% Jul-31 gilt except the last auction in October) we would continue to expect strong demand for the 10-year area of the curve.
  • We note that the last auction of the 0.25% Jul-31 gilt saw a bid-to-cover of 2.65x.
  • The 1.00% Jan-32 gilt is due to be on offer again once more this fiscal year, on 15 February.
  • Market colour: 10-year gilts have been outperforming Bunds since Omicron-related concerns started to impact the market. Markets see the uncertainty of the new variant delaying BOE hikes, while the ECB is still some way from tightening policy.
  • Timing: Results will be available shortly after the auction closes at 10:00GMT.
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.