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GILT AUCTION RESULTS: Strong 30-year gilt auction

GILT AUCTION RESULTS
  • A decent 30-year gilt auction for the 4.375% Jul-54 gilt with the LAP (lowest accepted price) of 88.919 above the pre-window closing price (but note the concession that was priced in a minute or so before the biding cut off).
  • The price of the 4.375% Jul-54 gilt moved higher after the results were published while gilt futures also moved around 13 ticks higher in the 3 minutes post results being published.
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  • A decent 30-year gilt auction for the 4.375% Jul-54 gilt with the LAP (lowest accepted price) of 88.919 above the pre-window closing price (but note the concession that was priced in a minute or so before the biding cut off).
  • The price of the 4.375% Jul-54 gilt moved higher after the results were published while gilt futures also moved around 13 ticks higher in the 3 minutes post results being published.