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Thoughts on average auction sizes

GILTS
  • Average auction sizes have changed a little in light of today's remit revision.
  • The most notable change will be for medium-dated gilts, with average auctions sizes to be GBP0.20bln smaller than originally anticipated.
  • Short-dated auctions will increase a little while long-dated auction sizes will decrease a little.
  • The average size of linker auctions will fall, but this is to be largely expected as auction that replaces the syndication is likely to be for a higher duration than the average linker auction.
    All GBPblnBudgetNew remitChange
    Short3.483.590.11
    Medium2.842.65-0.20
    Long2.212.15-0.06
    Linker1.281.20-0.08

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