UK DMO UPDATE: Short gilt tender consultation and Long / Linker Auctions

Tender for short gilt tender:

"The DMO is planning to schedule a consultation in early September with market participants to gather views on any continuing demand for a short conventional gilt tender (for a maturity of under three years) in the coming period."

Long auctions:

• 4.75% Oct-43: Two auctions as preferred by many: 1 October, 12 November.
• 4.375% Jul-54 gilt: Two auctions as supported by "some" with unanimous support at the consultation for at least one auction: 15 October, 3 December.
• 1.50% Jul-53 green gilt: One auction as expected: 31 October.
• Jan-40 gilt: No reopening in FQ3 (due to launch next week via syndication) despite a "few" calls from GEMMs and "some" calls from investors.
• 4.00% Oct-63 gilt: No auction - only "some" GEMMs were interested in an auction with but no mention from investors in the consultation.

Linker syndication:

• Confirmed for second half of November, but no further details were announced.

Linker auctions:

• 0.75% Nov-33 linker: One auctions (1-2 had been expected): 10 December
• 0.125% Mar-39 linker: 8 October.
• 0.625% Mar-45 linker: One auction: 22 October.