September 2035 Government inflation linked tender sees average yield at 2.57% up from last months 2.4%; 2.5x coverage ratio but small number of successful bids

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

2.50% – 20 September 2035 Today #556 Previous #554 Previous #552 Previous #549 Previous #546
Series offered tender
Nov. 12, 2015
tender
Oct. 8, 2015
tender
Sept. 17, 2015
tender
Aug. 20, 2015
tender
Jul. 16, 2015
Total Amount Offered ($mln) 100 100 100 100 100
Total Amount Allocated ($mln) 100 100 100 100 100
Total Number of Bids Received 57 55 46 50 60
Total Amount of Bids Received ($mln) 247 235 203 271 218
Total Number of Successful Bids 19 34 7 17 20
Highest Yield Accepted (%) 2.580 2.450 2.330 2.200 2.250
Lowest Yield Accepted (%) 2.540 2.370 2.300 2.160 2.200
Highest Yield Rejected (%) 2.900 2.580 2.470 2.400 2.420
Lowest Yield Rejected (%) 2.590 2.450 2.340 2.200 2.250
Weighted Average Accepted Yield (%) 2.5655 2.4221 2.3127 2.1869 2.2281
Weighted Average Rejected Yield (%) 2.6633 2.4939 2.3953 2.2552 2.3086
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 100 70 100 6.3 66.7
Coverage Ratio 2.47 2.35 2.03 2.71 2.18

*Individual allotments may vary due to rounding.