UK debt office narrowly avoided disorderly market in March
DMO chief says BoE intervention triggered rapid recovery; debt issuance now running at record levels
The UK’s Debt Management Office has so far managed to come through the Covid-19 crisis without failing to cover a single debt auction, but there was one auction in March that was right on the edge, Robert Stheeman said today (June 24).
The DMO chief said the auction on March 19 was ultimately filled successfully at a price only slightly weaker than in the secondary market. But within the space of a few hours afterwards, conditions in the gilt market rapidly deteriorated.
For about 10 days
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Debt management
IMF: Argentina needs ‘a strong and credible central bank’
Central bank caps banks’ FX holdings ahead of Milei inauguration on December 10
Kenya to buy back $500 million in Eurobonds
Central bank governor says country will seek ‘exceptional’ IMF funding
Bolivian reserves reaching critical levels, say experts
Central bank is depleting gold stocks to pay debt while monetary financing continues
Argentina reaches provisional agreement with IMF
Fund may continue loan despite non-compliance and ease reserve targets
IMF eases Argentina loan terms
Fund approves $5.4 billion payout and lowers reserves targets as drought conditions bite
Sovereign debt restructuring can be improved – paper
Authors recommend changes to GDP-linked debt and process of loss sharing
Bolivia seeks reserves boost from retail bond sale
Unusual central bank operation “does not make much sense”, former governor says
Critics accuse Barbados authorities of monetary financing
Government says it is using SDRs to buy bonds, while governor says purchases are legal
Most read
- ‘Do I die, or do I survive?’ Officials reflect on Basel III complexity
- French president calls for expanded ECB mandate
- ECB says iPhone is currently incompatible with digital euro