EGBS: [Correct]BTPs Underperform; Bond Supply The Main Focus For EGBs In January
Jan-02 10:17
Corrects maturity of new 7-year BTP to be launched in Q1. The 10-year BTP/Bund spread is around 2bp...
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GILT AUCTION RESULTS: Average long 3-year gilt auction
Dec-03 10:08
- That was an average gilt auction. The bid-to-cover was strong at 3.10x but the lowest accepted price of 100.446 was marginally below the pre-auction mid-price of 100.447.
- We have seen the price of the 4.00% May-29 gilt move marginally lower following the results being published.
- Gilt futures also down around 3-4 ticks since the results were published. However, we've also seen Bund futures move a couple of ticks lower in that time.
EURIBOR: ERZ5 Lifted
Dec-03 10:03
ERZ5 paper paid 97.955-960 on ~35K around the fixing.
GILT AUCTION RESULTS: 4.00% May-29 gilt
Dec-03 10:03
| 4.00% May-29 Gilt | Previous | |
| ISIN | GB00BVP99566 | |
| Amount | GBP4.75bln | GBP5.00bln |
| Avg yield | 3.855% | 3.845% |
| Bid-to-cover | 3.10x | 3.06x |
| Tail | 0.4bp | 0.4bp |
| Avg price | 100.458 | 100.501 |
| Low price | 100.446 | 100.489 |
| Pre-auction mid | 100.447 | 100.489 |
| Previous date | 04-Nov-25 |
