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The DMO come to the market.....>

GILT AUCTION PREVIEW
GILT AUCTION PREVIEW: The DMO come to the market today to sell Stg500mln nominal
of the 0.125% Aug-48 index-linked gilt.
- This will be the seventh auction of the issue which is considered the 30-year
benchmark linker (it was originally launched through two syndicated offerings).
The total nominal amount in issue after the auction will be close to Stg10bln.
The majority the previous auctions have seen healthy bid-to-cover ratios of over
2x, with the exception of the June 2019 auction that saw a larger E700mln
issued. The real yield at the time of writing is -1.79%, around 35bp higher than
the yield at the last auction in September.
RESULTS: Results will be announced shortly after the auction closes at 10:30GMT.
- A further Stg75mln nominal will be available to successful bidders through the
PAOF later today.

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