UK Sovereign

The UK’s Debt Management Office sold a £4.75bn tap of its July 2065s on Tuesday as the impending referendum on the UK’s membership of the European Union showed no impact on demand.

LCH, the clearing house operator, has made two senior executive appointments.

The UK’s Debt Management Office is to sell an additional £2.1bn of Gilts for the year to March 2017. The increase comes as the government’s net cash requirement rose by £2.9bn compared with the forecast published in the 2016 budget.

The UK’s Debt Management Office is to sell an extra £2.1bn of Gilts in the year to March 2017, after the government's net cash requirement rose by £2.9bn compared to the forecast published alongside the country's budget a few weeks ago.

The UK Debt Management Office (DMO) has mandated four banks for its re-opening of the 2.5% 2065 Gilt, which it has scheduled for the week beginning April 25, 2016.

The UK Debt Management Office started its 2016-17 funding programme by auctioning £5.25bn of debt this week, using a mechanism it has introduced to enhance Gilt price discovery.

Much of the UK media just cannot leave the prospect of an uncovered — or, to use the common but incorrect parlance, “failed” — sovereign debt auction alone. Even when the UK Debt Management Office introduces a new mechanism to improve price discovery, stories are littered with references to boosting demand.

The UK Debt Management Office kicks off its 2016-17 funding programme by auctioning £5.25bn of debt this week, in what will be the first test of a mechanism it has introduced to enhance Gilt price discovery.

The UK Debt Management Office has announced the details of two syndications it plans to sell in the first quarter of its 2016-17 financial year.

ICAP, the interdealer broker, has launched a daily index that measures the effective cost of funding for sterling government bonds.

The UK Debt Management Office looks likely to bring two syndications in the first quarter of its 2016-17 financial year, after Gilt-edged market makers (GEMMs) and investors recommended the strategy.

The UK Debt Management Office is reshuffling its funding strategy for the 2016-17 financial year, including adding the possibility of selling short to medium term conventional Gilts via syndication — although some investors would prefer a reduction in the UK’s use of syndications.