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UK Issuance Outlook and Spending Review Recap

  • Today's spending review delivered a dour outlook but a "rabbit from the hat" in terms of the levelling up fund.
  • From the markets side, we look at the implications for gilt issuance and set out our expectations for each gilt auction until the end of the 2020/21 fiscal year, see page 3 of the document for our expected issuance calendar.
  • Our political risk team also look at the highlights of the Spending Review and the most politically controversial parts.

Spending_Review25112020.pdf

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