Demand for UK Green Gilts Auction Remains Robust

⑴ The UK Debt Management Office conducted an auction on Tuesday for £3.25 billion of green gilts maturing in 2037. ⑵ This auction was oversubscribed by 3.38 times. ⑶ The tail of the yield was 0.3 basis points, and the tail of the price was 2.4 ticks. ⑷ The lowest allocated price was 94.895, corresponding to a yield of 5.271%. ⑸ The highest allocated price was 94.942, corresponding to a yield of 5.265%. ⑹ The total amount of bids was approximately £10.9805 billion, with about £2.7625 billion allocated to competitive bids. ⑺ The allotment rate at the lowest allocated price was 93.4615%. ⑻ In the non-competitive bidding, gilt-edged market makers were allocated £487.5 million.