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Relatively weak auction
- This morning's gilt auction was a little on the weak side. The LAP was a little below the mid-price, but this was partly due to the price moving higher into the close of the auction.
- In general the gilt has traded in a 102.754-102.862 since around 15 minutes after the open this morning, so even the average auction price of 102.857 is a little lower than the price seen less than 20 minutes prior to the auction close.
- Since the auction results, the gilt has continued to trade in its pre-auction range.
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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.