Strong demand at UK gilt auction
Published April 3rd, 2008
Investors put in bids worth 2.63 times the amount on offer, into to a 3.75 billion pound sale of two-year gilts on Thursday, the largest single auction since Britain’s Debt Management Office was created a decade ago. the heaviest over-subscription for a conventional gilt in more than a year.
Short-dated government bond prices have leapt since the start of the year as deteriorating economic and credit conditions have encouraged investors to seek refuge in safe-haven assets.
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