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Strong auction

GILT AUCTION RESULTS
  • That was a strong gilt auction with the highest bid-to-cover in the history of the 4.125% Jan-27 gilt at 2.60x and with a relatively tight tail of 0.4bp.
  • The LAP of 100.549 hadn't been surpassed in the secondary market in the half hour before the auction closed and we have moved to the highest level for 90 minutes on the publication of the results.

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