LONDON, Feb 13 (Reuters) - The Bank of England sold 650
million pounds ($787 million)of long-dated gilts with a maturity
of more than 20 years at an auction on Monday, its second such
operation for long-dated bonds as it reverses tens of billions
of pounds of quantitative easing purchases.
Investors bid for 864.2 million pounds of the government
debt, giving a bid-to-cover ratio of 1.33, down from 1.65 at its
first auction for this type of bond on Jan. 30.
Last week the BoE was unable to sell the full 650 million
pounds of short-dated bonds it aimed to offload at auction,
putting upward pressure on short-dated yields.
Gilt prices were little changed after the BoE published
Monday's auction result.
($1 = 0.8264 pounds)
(Reporting by David Milliken, editing by Andy Bruce)
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