Gilts at session highs after BoE Gilt reverse auction
The Bank of England´s latest Gilt reverse auction was well bid, drawing offers worth 3.19 times the £1.17bn of debt the central bank bought back.
A total of £1,169.9m of Gilts maturing in between seven to 15 years were repurchased by the monetary authority.
The Old Lady on Threadneedle Street repurchased £335.3m of Gilts maturing in September 2024, another of £349.7m of debt falling due in December 2028, £251.8m of December 2030 instruments and a futher £56.5m of September 2025 Gilts.
As of 1535 BST the yield on the benchmark 10-year Gilt was off by three basis points to 0.61%, its session low.