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🚨 🇬🇧 UK 2032 gilt auction draws strong demand: 3.51x cover, tight tail
🚨 🇬🇧 UK 2032 gilt auction draws strong demand: 3.51x cover, tight tail
- 🇬🇧 The UK sold GBP 4.5bln of its 4.625% 2032 gilt with bids covering the offer 3.51 times, up from 3.07 times at the previous sale, per newswires at
- 🇬🇧 The average yield was 5.026% against 4.84% last time, and the tail was a tight 0.3bp (0.4bp before), a clean result
FO view: Strong demand for five-year gilts above 5% shows supply is still being absorbed at these yields, which tempers pressure on the UK curve.
Not investment advice.