MNI: Fed's Harker Sees Reason To Hold Rates Steady For Now

MNI BRIEF: US Policy Shift May Cause German Recession - Nagel

MNI BRIEF: China Supply Of New Homes Down In January - CRIC

MNI China Daily Summary: Monday, February 17

MNI BRIEF: President Xi Meets With Tech Leaders

MNI China Press Digest Feb 17: PBOC, Credit Demand, Huijin

EZ/UK Bond Supply Calendar: IT Piu; UK, DE, FI Due Tuesday

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +14.4B CAD IN DEC

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GILT AUCTION RESULTS: Softish 5-year gilt auction (but not terrible)

GILT AUCTION RESULTS
CEEMEABulletUKMarketsFixed Income Bullets

The lowest accepted price (LAP) a little below the pre-auction mid-price on the secondary market there. However, the 4.375% Mar-30 gilt has shrugged off the disappointment and is trading higher now.

  • There was quite a concession for the auction with the price falling from above 100.46 in the 5-minutes ahead of the auction cut off window. We are still trading notably below that level and closer to the average auction price at writing.
  • Not the strongest auction but still a decent volume of demand (bid to cover in excess of 3x at 3.05x).
  • Weakness seen in gilt futures going into the bidding window closing too (albeit there was some downside moves in Bunds concurrently). In gilt futures we were around 92.65 5 minutes before the auction close, hit a low of 92.490 and are now back at 92.560 at writing.
137 words

To read the full story

Close

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.

The lowest accepted price (LAP) a little below the pre-auction mid-price on the secondary market there. However, the 4.375% Mar-30 gilt has shrugged off the disappointment and is trading higher now.

  • There was quite a concession for the auction with the price falling from above 100.46 in the 5-minutes ahead of the auction cut off window. We are still trading notably below that level and closer to the average auction price at writing.
  • Not the strongest auction but still a decent volume of demand (bid to cover in excess of 3x at 3.05x).
  • Weakness seen in gilt futures going into the bidding window closing too (albeit there was some downside moves in Bunds concurrently). In gilt futures we were around 92.65 5 minutes before the auction close, hit a low of 92.490 and are now back at 92.560 at writing.