Safe haven trade: 50-year gilts snapped up in record time


The latest sale of index-linked 50-year gilts was completed in record time today, as investors snapped up £4bn worth of debt.

The Debt Management Office (DMO) reported sales of the long-dated government bonds attracted £11bn of bids in just 45 minutes. The DMO's chief executive, Robert Stheeman, said the auction had been a 'striking success' for the gilt market. "Once again we have been very impressed with the market's capacity to mobilise a very large and high quality book of demand, of £11bn, within 45 minutes, a record time for an index-linked syndication and the record time for any book of this size." Once again confirming the attraction of the gilt market in times of strife - not to mention the level...

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