Value of expressions of interest in ultra-long gilts reaches £12.8bn in an hour

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The value of expressions of interest in the new 55-year gilt launched by the Debt Management Office (DMO) reached £12.8bn within the first hour of trading.

Launched on 25 June, when the joint book-runners closed the book, the size of the deal was nominally £5bn and priced at 3.5 basis points above the yield on the 4% Treasury gilt 2060, a 47-year gilt...

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