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UK DMO UPDATE: Schedule updates following EFO timing

UK DMO UPDATE
CEEMEABulletUKMarketsFixed Income Bullets
  • The DMO has rescheduled the auction of the 4.00% Oct-31 gilt from 26 March to 27 March.
  • It has announced that due to the timing of the EFO on 26 March, it will release a proposed calendar for the first 3 weeks of the next fiscal year at 7:30GMT on 12 March - with views from market participants sought until midday 13 March and the calendar for 31 March - 18 April then being confirmed on Friday 14 March at 7:30GMT.
  • The DMO will also re-schedule the next consultation to discuss FQ1-25/26 issuance with GEMMs and investors will take place on 31 March 2025 (rather than 17 March). The agenda for this meeting will now be published on Wednesday 26 March at 15:30. The DMO will announce its April to June issuance operations schedule at 7:30GMT on Friday 4 April.
  • Note that when the timing of the EFO was released we noted the strong possibility of the DMO remit being announced later and early calendar operations being announced in advance of this - so this should not be a surprise to the market.
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  • The DMO has rescheduled the auction of the 4.00% Oct-31 gilt from 26 March to 27 March.
  • It has announced that due to the timing of the EFO on 26 March, it will release a proposed calendar for the first 3 weeks of the next fiscal year at 7:30GMT on 12 March - with views from market participants sought until midday 13 March and the calendar for 31 March - 18 April then being confirmed on Friday 14 March at 7:30GMT.
  • The DMO will also re-schedule the next consultation to discuss FQ1-25/26 issuance with GEMMs and investors will take place on 31 March 2025 (rather than 17 March). The agenda for this meeting will now be published on Wednesday 26 March at 15:30. The DMO will announce its April to June issuance operations schedule at 7:30GMT on Friday 4 April.
  • Note that when the timing of the EFO was released we noted the strong possibility of the DMO remit being announced later and early calendar operations being announced in advance of this - so this should not be a surprise to the market.