UK Sovereign
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The prospect of the UK voting to leave the European Union has become the foremost focus of fund managers and volatility traders, even as the latest poll on Brexit gave the ‘Remain’ campaign an 18 point lead over ‘Leave’ — prompting the pound to rally to its highest point against the dollar since May 3. -
The UK Debt Management Office could launch a new five year conventional Gilt in the second quarter of its 2016-17 financial year and is seeking comment from investors and banks on the proposal.
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The UK Debt Management Office has picked the banks that will run its next syndication, scheduled for the week beginning May 23.
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China’s Ministry of Finance (MoF) is set to issue its debut offshore renminbi (CNH) government bond in London as early as this month, with one Chinese bank and one foreign bank mandated on the deal.
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The UK’s Debt Management Office highlighted that the demand for ultra long end Gilt issuance remains as strong as ever, selling a £4.75bn 50 year tap via syndication from a final book size of £21bn.
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The European Investment Bank sold a £500m tap of its February 2019s on Wednesday, taking sterling issuance from public sector borrowers to its highest level for nine weeks.
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A trio of taps and a UK Gilt syndication this week have demonstrated that fears of the country’s June 23 referendum on EU membership disrupting the market may be misplaced. Indeed, investors have expressed greater worries about risks elsewhere in Europe.
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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.
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LCH, the clearing house operator, has made two senior executive appointments.
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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.
