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Today the DMO will come to.....>

GILT AUCTION PREVIEW
GILT AUCTION PREVIEW: Today the DMO will come to the market to issue Stg2.25bln
of the 1.75% Jan-49 gilt.
- This is generally regarded as the benchmark 30-year gilt. This will be the
fifth reopening of the gilt after it was launched in September 2018, and with
the exception of the launch auction it will be the largest auction in nominal
terms. Prevailing yields are around 10bp higher than at the time of the last
auction, at 1.255%. The bid-to-cover has generally been around 2x with a tail of
0.4bp at the last auction.
RESULTS: Results will be announced shortly after the auction closes at 10:30GMT.
- A further Stg337.5mln will be available to successful bidders through the PAOF
later today.

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