BOE: GBP 1.34 billion allocated in 6-month ILTR operation
BOE allocates 1.34 billion British pounds in liquidity operation, matching banks’ bids
$EWG Germany sells EUR 3.549bln vs exp. EUR 4.5bln 2.40% 2030 Bobl: b/c 1.4x (prev. 1.90x), Average yield 2.06% (prev. 2.44%) & retention 21.1% (prev. 23.76%)
The Bank of England (BoE) conducted a successful auction, selling £750 million in government bonds with a cover ratio of 2.38, receiving £1.78 billion in bids. This sale is part of the BoE's ongoing efforts in quantitative tightening, with £621 billion remaining in its UK government bond holdings. Additionally, the BoE allocated £1.34 billion in a liquidity operation, matching banks' bids. In related news, Germany sold €3.549 billion in bonds, falling short of the expected €4.5 billion, with an average yield of 2.06%. This reflects a decrease from the previous yield of 2.44%. The retention rate for this sale was 21.1%, down from 23.76%. Various banks, including Deutsche Bank AG, Macquarie Bank Ltd, and Citibank, made regulatory announcements regarding variable rate fixes.
