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BOOMUK plans to issue £180 billion of government bonds between May and July alone - £25 billion more than it planned for the entire 2020/21 financial year
On the face of it, a muted reaction in the market
As it stands, we're looking at a gilt issuance remit of about £236 billion in 2020/21 - a new record.
That's based on £45.7 billion already sold in April, £9.2 nominal scheduled next week (so ~£10 billion cash), and the £180 billion for May-July.
Dealers expect that to rise.
That's based on £45.7 billion already sold in April, £9.2 nominal scheduled next week (so ~£10 billion cash), and the £180 billion for May-July.
Dealers expect that to rise.
(I had earlier said about £226 billion but I forgot to include auctions coming next week)
