BOE Sees Very Strong 4.47 Cover At 3-10 Year Auction

–BOE Only Accepts Offers In Two Gilts: 2% 2016 And 2.75% 2015

LONDON (MNI) – The Bank of England 3 to 10 year reverse auction on
Monday saw exceptionally strong cover, but it only accepted offers on
two gilts.

The vast majority of the stg1.7 billion auction centred on the
2.75% 2015 gilt, with the central bank receiving offers for stg2.18802
billion and accepting offers for stg1.56 billion, at an average price of
stg105.759.

The only other gilt the BOE accepted offers for was the 2% 2016
gilt. It accepted stg140 million worth, having been offered stg1.12568
billion.

The BOE bought none of the other 10 gilts in the auction.

–London newsroom 0044 20 7862 7491; email: drobinson@marketnews.com

[TOPICS: M$B$$$,M$$BE$,MMBBE$]