GILT AUCTION RESULTS: 4.375% Mar-28 Gilt
Feb-19 10:05
| 4.375% Mar-28 Gilt | Previous | |
| Amount | GBP4.25bln | GBP4.25bln |
| Avg yield | 4.294% | 4.384% |
| Bid-to-cover | 3.09x | 3.20x |
| Avg price | 100.228 | 99.974 |
| Low price | 100.213 | 99.967 |
| Pre-auction mid | 100.218 | 99.961 |
| Previous date | 23-Jan-25 |
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
FOREX: EURGBP Extending 2025 Rally, Testing Downtrend From 2022 High
Jan-20 10:04
- Euro stability last week allowed the softer data in the UK to support an extension of the EURGBP rally across 2025. The cross rose 0.66% on the week, posting its second consecutive weekly advance and the highest close since late August. The recovery further undermines the recent bearish theme and is suggesting scope for stronger short-term gains.
- Note too that a clear break of 0.8448, the Oct 31 high, strengthens the bullish technical theme, with the cross also now testing downtrend resistance around 0.8475, drawn from the 2022 and 2024 highs.
- Above here, 0.8494 represents the next topside target, followed by 0.8530, the 76.4% retracement of the Aug 8 - Dec 19 downleg. Support at the 50-day EMA moves up to 0.8341.
- Labour market data will headline the UK economic calendar tomorrow, while Eurozone flash PMIs on Friday should be impactful for the single currency.
EFSF ISSUANCE: New 3-year / new 10-year: Spreads set
Jan-20 10:01
New long 3-year:
- Maturity: 27 July 2028
- Coupon: Short 1st
- Spread set at MS+19bp (guidance was MS + 21 bps area)
- Size: EUR Benchmark (MNI expects E3-5bln)
- Books in excess of E24bln (inc E1.5bln JLM interest)
- ISIN: EU000A2SCAR0
New 10-year:
- Maturity: 29 January 2035
- Coupon: Long first
- Spread set at MS+50bp (guidance wasMS + 53 bps area
- Size: EUR Benchmark (MNI expects E3-5bln)
- Books in excess of E33bln (inc E1.5bln JLM interest)
- ISIN: EU000A2SCAS8
For both:
- Total size: MNI expects E7-8bln
- Settlement: 27 January 2025 (T+5)
- Bookrunners: BARCLAYS / BNP / JPM (DM/B&D)
- Timing: Books to close at 10:15GMT /11:15CET, today's business
From market source
MNI: EURZONE NOV CONSTRUCTION PRODUCTION 1.2% M/M
Jan-20 10:00
- MNI: EURZONE NOV CONSTRUCTION PRODUCTION 1.2% M/M
- MNI: EURZONE NOV CONSTRUCTION PRODUCTION 1.4% Y/Y
