March 12, 2025 07:08 GMT
UK DMO UPDATE: Provisional outline calendar due at 7:30GMT
UK DMO UPDATE
- The DMO is due to release its provisional outline calendar for the first three weeks of April at 7:30GMT for consultation, ahead of the final release on Friday at 7:30GMT.
- We would expect to see auctions of the 5-year 4.375% Mar-30 gilt, 10-year 4.50% Mar-35 gilt and a 30-year issue (either a final reopening of the 4.375% Jul-54 gilt or the 1.50% Jul-53 green gilt) all on offer alongside at least one linker issue with 5-6 auctions likely announced.
- We would be surprised if a syndication was announced before the final remit (which will accompany the Reeves’ presentation of the EFO on 26 March). We do note, however, that we think there is a good chance that we see a new 30-year gilt issued via syndication in FQ1 or FQ2.
- Today's announcement may be limited to just stating short/medium/long/linker dates, rather than specific gilts on offer.
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