September 2035 Government inflation-linked tender #599; coverage ratio, lowest since August, drops to 2.34; weighted average yield down 27 bps to 2.14%

The results from the latest inflation-indexed bond offer by the Treasury’s Debt Management Office have been released. The details are shown below.

 

2.50% – 20 September 2035 Today #599 Previous #594 Previous #590 Previous #587 Previous #584   1 Year Ago #567
Series offered tender Apr. 13, 2017

tender Feb. 10, 2017

tender Dec. 9, 2016 tender Nov. 11, 2016 tender Oct. 13, 2016   tender Apr. 14, 2016
Total Amount Offered ($mln) 100 100 100 100 100   100
Total Amount Allocated ($mln) 100 100 100 100 100   100
Total Number of Bids Received 40 42 50 53 51   43
Total Amount of Bids Received ($mln) 234 451 538 456 308   293
Total Number of Successful Bids 20 11 14 14 15   5
Highest Yield Accepted (%) 2.1550 2.4200 2.4300 2.2600 1.9200   2.1400
Lowest Yield Accepted (%) 2.1150 2.3950 2.4150 2.2350 1.8800   2.1400
Highest Yield Rejected (%) 2.2600 2.5500 2.5750 2.3800 2.0100   2.3200
Lowest Yield Rejected (%) 2.1550 2.4200 2.4300 2.2600 1.9200   2.1400
Weighted Average Accepted Yield (%) 2.1426 2.4110 2.4238 2.2498 1.9016   2.1400
Weighted Average Rejected Yield (%) 2.1967 2.4501 2.4694 2.3065 1.9495   2.1902
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 75.0 37.5 51.2 95.0 50.0   66.7
Coverage Ratio 2.34 4.51 5.38 4.56 3.80   2.93

 

*Individual allotments may vary due to rounding.