We get the results of this morning's 15 year+ gilt auction at 09.40 GMT 16 Aug
I highlighted the event in my UK inflation preview:
"Also of note this morning is the BoE reverse auction operation for over 15-year Gilts in
GBP 1.17bln. Today's auction comes after last week's disappointing operation when the BOE received offers for only GBP 1.12bln, despite offering prices described by traders as "well above market levels". I reported on that and the implications for GBPhere.
Results due at 09.40 GMT"
Another low take-up should see the pound have a little wobble and vice versa.
Update: 09.41 GMT
- BOE allots £225m in indexed long-term repos vs £444m prev on 9 Aug
GBP pairs seemingly unfazed by the results so far and finding some dip demand generally.
GBPUSD back to 1.2993 with decent offers at 1.3000 still and more into 1.3025. EURGBP 0.8675
Update: 10.20 GMT
Hats off to reader "emergingmeerkat" who tells me the repo is actually due at 13.45 GMT with results known shortly after. The 09.40 GMT operation was just liquidity provision.
