A positive development; helps leverage and rating. Levels trade reasonably tight, so we do not antic...
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Decent long 3-year gilt auction but the lowest accepted price of 100.489 only matched the pre-auction midprice (rather than exceeding). However, with GBP5bln sold and a bid-to-cover of 3.06x that can't be described in any way as a disappointing auction.
| 4.00% May-29 Gilt | Previous | |
| ISIN | GB00BVP99566 | |
| Amount | GBP5.00bln | GBP5.00bln |
| Avg yield | 3.845% | 4.095% |
| Bid-to-cover | 3.06x | 2.92x |
| Tail | 0.4bp | 0.8bp |
| Avg price | 100.501 | 99.678 |
| Low price | 100.489 | 99.650 |
| Pre-auction mid | 100.489 | |
| Previous date | 08-Oct-25 |
| 2.95% Feb-35 RAGB | |
| ISIN | AT0000A3HU25 |
| Issue Amount | E863mln |
| Previous | E575mln |
| Allotted | E750mln |
| Previous | E500mln |
| Avg yield | 2.891% |
| Previous | 2.997% |
| Bid-to-cover | 2.36x |
| Previous | 3.01x |
| Bid-to-issue | 2.05x |
| Previous | 2.62x |
| Avg Price | 100.465 |
| Low Price | 100.440 |
| Pre-auction mid | 100.104 |
| Prev avg price | 99.613 |
| Prev low price | 99.600 |
| Prev mid-price | 99.292 |
| Previous date | 07-Oct-25 |