A potential resumption of merger talks with Honda under the new CEO remains a key driver. Fundamenta...
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The 0.5bp tail at today’s 4.75% Oct-43 Gilt auction was the widest of the eight re-openings for this line (previous range 0.1-0.4bps). Meanwhile, this was the first auction for this line that saw a bid-to-cover of below 3.00x (2.97x at today’s auction, average across the seven prior re-openings: 3.42x).
The secondary market price of the Gilt has fallen to 94.212 since the auction results were published (vs a lowest accepted price of 94.263 and a pre-auction mid-price of 94.230).
SOFR FIX - Source BBG/CME
EURIBOR FIX - EMMI/Bloomberg