–BOE Accepts Offers For All of the 8 Gilts On Offer
LONDON (MNI) – The Bank of England’s 10-25 year reverse gilt
auction received strong covered on Wednesday, after the over 25 year
auction on Tuesday was barely covered.
The cover ratio for stg1.7 billion auction came in at 2.71,
compared with just 1.06 at Tuesday’s auction and 2.14 at last week’s
10-25 year auction.
The second wave of quantitative easing has seen a similar pattern
to the first, with strong cover in the 3-10 and 10-25 year auctions and
much weaker cover in the over 25s with pensions funds and banks the
long-term holders of the ultra-long maturities.
The central bank accepted offers for all of the eight gilts on
offer.
–London newsroom 0044 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,M$$BE$,MMBBE$]
