September 2035 Government inflation-linked tender #602; coverage ratio highest for year at 4.7 times; weighted average yield virtually unchanged at 2.15%

The results from the latest inflation-indexed bond offer by the Treasury's Debt Management Office have been released. The details are shown below.

2.50% - 20 September 2035 Today
#602
Previous
#599
Previous #594 Previous #590 Previous #587   1 Year Ago #567
Series offered tender
May 12,
2017
tender Apr. 13, 2017

tender Feb. 10, 2017

tender Dec. 9, 2016 tender Nov. 11, 2016
 
tender Apr. 14, 2016
Total Amount Offered ($mln) 100 100 100 100 100   100
Total Amount Allocated ($mln) 100 100 100 100 100   100
Total Number of Bids Received 49 40 42 50 53   43
Total Amount of Bids Received ($mln) 471 234 451 538 456   293
Total Number of Successful Bids 7 20 11 14 14   5
Highest Yield Accepted (%) 2.1600 2.1550 2.4200 2.4300 2.2600   2.1400
Lowest Yield Accepted (%) 2.1250 2.1150 2.3950 2.4150 2.2350   2.1400
Highest Yield Rejected (%) 2.2700 2.2600 2.5500 2.5750 2.3800   2.3200
Lowest Yield Rejected (%) 2.1600 2.1550 2.4200 2.4300 2.2600   2.1400
Weighted Average Accepted Yield (%) 2.1485 2.1426 2.4110 2.4238 2.2498   2.1400
Weighted Average Rejected Yield (%) 2.1905 2.1967 2.4501 2.4694 2.3065   2.1902
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 71.4 75.0 37.5 51.2 95.0   66.7
Coverage Ratio 4.71 2.34 4.51 5.38 4.56   2.93

*Individual allotments may vary due to rounding.

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1 Comments

A pathetic yield, but that's the good news. Good luck with ever seeing your principle back again. Govt debt defaults are a virtual guarantee in 15-20yrs from now.