Gilts Dumped After BOE Announces Latest QE Operation Was 4.71x Oversubscribed

Tyler Durden's picture

After yesterday the BOE failed to attract enough selling interest to fully cover its long-maturity QE operation, bond traders were sitting on edge for the results of today's latest "POMO" open market operation, which concluded moments ago, to see if it too would have a shortfall in supply.

That did not happen, and instead as the BOE revealed moments ago, there was a substantial GBP5.51 billion in gilts offered for sale to the BOE, resulting in a comfortable coverage of 4.71.


The immediate result: selling in the gilt complex, as traders breathe a sigh of relief that there will be more sellers after all, which in turns leads to more selling not just in the UK but also across the Atlantic.

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buzzsaw99's picture

make a few phone calls, twist a few arms beforehand.

nibiru's picture

Whatever it takes man! 


God save the queen.

LawsofPhysics's picture

LOL!!!  Yeah loan the .gov your cash for 0.57%...


techpriest's picture

It's all on the hope that you can turn around and sell to the BOE for a quick profit. No sensible person would actually buy and hold these.

Although, if you are buying a "Retirement 2030" fund, maybe 40% of the portfolio is loaded into things like this.

SomethingSomethingDarkSide's picture

ESF - magical liquidity oasis, praise Jesus!

abyssinian's picture

wow, now they are printing fake Bonds to sell to fake printed paper money!   :)

ParkAveFlasher's picture

Pretty soon they will pay you for real labor and goods with slips of paper representing math equations.  oh wait

brada1013567's picture

Buy Mickey Mouse.



The Zikaest Place on Earth

bada boom's picture

All fixed, lets move on.

venturen's picture

Gun placed to financial companies heads!

Sentient B-ing's picture

I thought I may be surprised today..... much to my suprise.... I was not...