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Syndication timing

GILTS

In terms of timing for the one long-dated syndication that the DMO has announced as likely for the January-March period, we pencil in our expectation that it will be held on 19 January 2021. This is the only week in the period to have only one auction scheduled and provisionally a linker is to be sold that week. This means that there is currently no scheduled conventional auctions that week.

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