BOOM

UK 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.

(I had earlier said about £226 billion but I forgot to include auctions coming next week)