Well I for one feel mightyly reassured. Yes indeedy.
- Market expecting issuance to be same in 2011/12 as in 2010/11
- Supplementary programme for long, index-linked gilts has worked well (yes, it’s hard to disagree with that)
- Long average debt maturity has reassured market
- Not fixated on average debt maturity. Market access, liquidity more important
- Dealers, investors say gilt market liquidity has improved
