FOREX: USD Off Lows, Shrugs Off Political Tumult
Jun-06 09:11
* After a tumultuous Thursday close, the greenback is recovering off lows, firming against all oth...
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GILT AUCTION RESULTS: Decent Mar-30 Gilt auction; Small Upside In Gilt Futures
May-07 09:08
Decent 4.375% Mar-30 Gilt auction, with the 0.4bp tail below the 1.0bp seen in April (though a touch above March’s 0.3bp). The bid-to-cover ratio of 3.23x was above the 3.10x average seen in the four prior auctions (including the launch).
- Lowest accepted price of 101.704 above the 101.687 pre-auction mid. The secondary market price of the Gilt is now 101.735.
- Gilt futures gain 13 ticks following the result’s publication, now at 93.01.
GILT AUCTION RESULTS: 4.375% Mar-30 Gilt
May-07 09:04
| 4.375% Mar-30 Gilt | Previous | |
| Amount | GBP4.50bln | GBP4.50bln |
| Avg yield | 3.977% | 4.142% |
| Bid-to-cover | 3.23x | 2.95x |
| Tail | 0.4bp | 1.0bp |
| Avg price | 101.721 | 101.009 |
| Low price | 101.704 | 100.963 |
| Pre-auction mid | 101.687 | 100.985 |
| Previous date | 09-Apr-25 |
FRANCE AUCTION RESULTS: Decent LT OAT Auction
May-07 09:02
Top of the E10-12bln range sold, with decent bid-to-cover ratios seen across lines. The majority of the sale was allocated to the on-the-run 3.20% May-35 OAT (E7.8bln)
- The lowest accepted prices were above pre-auction mid prices in all cases.
- Light upside in OAT futures seen following the publication of the results, now +15 ticks to fresh session highs of 125.00.
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