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Short-dated purchase analysis

BOE APF PURCHASES
  • Decent amount offered with only 3 gilts eligible for purchase this week, but the bid-to-cover not really falling compared to last week when 4 gilts were eligible.
  • Offers for the 0.625% Jun-25 were roughly down by the amount BOE purchased last week.
  • Offers of the 0.125% Jan-26 increased from about GBP1.5bln to over GBP2.1bln (with only a little bought last week).
  • Offers of the 1.25% Jul-27 increase by around GBP600mln to GBP1.45bln.
  • The 0.125% Jan-28 gilt was not eligible for purchase this week (last week GBP886mln offered).

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