The UK’s Debt Management Office (DMO) – the body which takes all of the UK Treasury’s debt to market- has published its gilt issuance calendar for the next quarter. Unsurprisingly, it’s quite chocka.
In fact, so busy will the DMO be, CEO Robert Stheeman says it may even be the most challenging quarterly calendar to-date. Luckily, Stheeman reassures the auctions will at least come at a regular pace:
This is the most challenging quarterly calendar to-date in terms of the number of operations. In designing the programme we have, as usual, listened closely to the views of market participants, whose commitment to the delivery of the Government’s financing programme to-date I greatly value. We have again tried to be as responsive as we can to market requirements.
Reflecting our commitment to transparency and predictability in debt management operations, we have been able to achieve a significant degree of regularity in the calendar, which includes short-dated conventional auctions every two weeks, medium-dated conventional auctions every two weeks, and index-linked auctions every two weeks.
Here’s their score-card to date:
