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The 0.50% Oct-61 is to be issued today via....>

GILTS
GILTS: The 0.50% Oct-61 is to be issued today via syndication, almost exactly a
year after the last new 30+ year maturity gilt launch - the syndicated launch of
the 1.625% Oct-54 gilt in May 2019. Last year's 1.625% Oct-54 gilt syndicated
launch saw a book size of GBP32.0bln with GBP4.75bln issued.
- Expectations for today's syndication will be very high after the huge demand
seen for the lower duration 0.375% Oct-30 gilt last week which saw GBP12.0bln
sold via syndication. Long-end demand for EGBs has also been very high, with the
Italian 30-year syndication on April 21 having a book size of EUR45bln with
EUR6bln issued.
- We would expect a deal size for the 0.50% Oct-61 gilt in the region of
GBP4.5-7.0bln with expectations towards the mid-to-top of the range.

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