United Kingdom New Conventional Gilt 2030

Latest figures

No results of this release are shown yet. They appear here as soon as they are published.

See it in the economic calendar →

Why it matters

Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.

How it is calculated

Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.

Bid-to-cover = amount bid ÷ amount sold

What changes mean

• Bid-to-cover above its recent average and no tail: solid demand.
• Index-linked and green bonds are smaller auctions with their own investor base.

A short history

Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.

Questions