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By Lewis McLellan
12 Feb 2021
The UK sold its last syndication of the financial year on Tuesday, selling a £2.25bn 2051 index linked bond its first syndication in the format since November 2019. Activity in this area of the curve has been subdued for some time, largely due to the twin headwinds of RPI reform and Brexit, said a sterling portfolio manager.
The UK Debt Management Office completed a consultation on reforming the retail price index, publishing its response in November.
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UBS have been appointed to lead the sale of the 0.125% March 2051 linker in the week commencing February 8, subject to demand and market conditions.In December, the DMO announced plans to sell a long-dated index-linked Gilt
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