Major Revision of UK Gilt Issuance Calendar
May 4, 2020
UK’s DMO has issued another major revision-expansion to its Gilt issuance calendar. Staying with the structure and tempo of the April revision, the new plan roughly triples (to 53) the originally planned number of auctions for May, June, and July, with the aim of raising another £180 billion during the period. As in April, in addition to auction frequency, the auction times, the particular securities or tenors up for auction, the post-auction amounts (now 25% instead of 15%) and the post-auction times have all been reflected in Econoday’s Sovereign Debt Calendar.