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Relatively weak green auction

GILT AUCTION RESULTS
  • A relatively weak auction for the 10-year 0.875% Jul-33 Green Gilt with a tail of 1.3bp and the LAP of 72.564 below the pre-auction mid-price of 72.614.
  • The price has since fallen below the LAP on the results being published to the lowest level since 8:30BST.
  • Note that this follows a relatively weak 10-year conventional gilt auction 2 weeks ago which saw a 1.2bp tail for the 3.25% Jan-33 gilt.

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