Free Trial

The UK Debt Management.........>

GILT AUCTION PREVIEW
GILT AUCTION PREVIEW: The UK Debt Management Office will tap the 0.125% Aug-28
IL Gilt on Tuesday for Stg 1.1bln
- BACKGROUND: There is Stg. 1.38bln outstanding of the 0.125% Aug-28 IL Gilt.
- HISTORY/RV: The gilt curve has shifted lower since the beginning of August,
with the 2s10s spread narrowing to 52.3bps from 59.2bps. Market-based measures
of longer-term inflation expectations have deteriorated very slightly over the
past week with the 10-year breakeven edging down to 3.065% from 3.091%. The
0.125% Aug-28 IL Gilt has rallied over the course of August and currently trades
at a yield of -1.811% down from -1.660%. The European issuance calendar is light
this week, with no significant redemptions or coupon payments to support the
gilt auction. 
- TIMING: Results are due shortly after the auction closes at 0930 GMT      

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.