RFF, UK Rail sate thirst for ultra-long sterling

The need for sterling long-dated assets, both conventional and index linked, has been highlighted in the past two weeks by strong demand for a 50 year nominal from French railway operator, Réseau Ferré de France (RFF) and a tap of Network Rail’s 2047 linker. The UK’s Debt Management Office will be hoping that this demand continues when it embarks on its round of Gilt issuance in the new financial year starting on April 1.