Finance: Bonds

House of Lords written question – answered on 25th January 2010.

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Photo of Lord Dykes Lord Dykes Spokesperson for Foreign and Commonwealth Affairs, Spokesperson for Environment, Food and Rural Affairs

To ask Her Majesty's Government what is their assessment of the level of participation in the latest auction for long-term Government bond purchases.

Photo of Lord Myners Lord Myners Parliamentary Secretary, HM Treasury

The auction of £2,250 million (nominal) of 41/4 per cent Treasury Gilt 2049 on 13 January 2010 was covered 1.81 times, which is slightly higher than the cover ratios at the previous two auctions of long-dated conventional gilts (the £2,000 million (nominal) auction of 41/2 per cent Treasury Gilt 2034 on 4 November 2009 was 1.53 times covered and the £2,250 million (nominal) auction of 41/4 per cent Treasury Gilt 2039 on 2 December 2009 was 1.74 times covered).

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