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Only surprise in the calendar is the short 5-year maturity

GILTS

Overall no surprises about what will be on offer in the October to December period, but the new 5-year gilt having a maturity of 29 January 2027 is shorter than expected. All other 5-year gilts launched by the DMO in the recent past have had a maturity of greater than 60-months at launch (i.e. longer than 5 years) whereas the new gilt will have a maturity of closer to 4 years at launch.

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