Wednesday July 1, 03:16 PM
BoE buys 3.0 bln stg of gilts, gets 3.19 cover ratio
LONDON, July 1 (Reuters) - Investors were eager to sell gilts to the Bank of England at its weekly purchase of medium-dated gilts on Wednesday, offering to sell 3.19 times the 3 billion pounds worth the Bank wanted to buy.
Investors submitted offers totalling 9.584 billion pounds.
The BoE focussed its purchases on the 5.0 percent gilt due 2018, of which it bought 2.281 billion pounds worth, but it did not buy any of the 4.5 percent 2019 bond.
Gilt futures fell after the result was announced to stand around 20 ticks down on the day.
For full details of Wednesday's purchases, see
http://www.bankofengland.co.uk/markets/money/Round2.html/
For data about past purchases, see
http://www.bankofengland.co.uk/markets/apf/index.htm#bondresults Keywords: BRITAIN BANK/GILTPURCHASE
(UK Economics Desk; Tel. +44 207 542 2774)
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