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Relatively weak auction

GILT AUCTION RESULTS
  • 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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