(Adds J.P. Morgan comment)
LONDON, March 15 (Reuters) - Britain aims to issue 241.1
billion pounds ($291.3 billion) of government bonds in the
coming 2023/24 financial year, a little more than primary
dealers had expected, the Debt Management Office (DMO) said on
Wednesday.
A Reuters poll of primary dealers had pointed to a gilt
issuance remit of around 233 billion pounds.
The DMO said it planned to increase net issuance of
short-term Treasury bills by 5 billion pounds, compared with the
poll consensus of around 18 billion pounds.
Gilt yields, which had fallen sharply on Wednesday as
part of a stampede into safe haven assets sparked by nerves over
the
health of global banks
, showed little reaction to the remit.
"Although the remit contained some small surprises any
GBP market impact from the remit is totally overshadowed by
global rate market moves," said J.P. Morgan rates strategist
Francis Diamond, in a note to clients.
The DMO's remit showed short-dated gilts comprised 36%
of its issuance plans - one of the largest shares since the
2008/09 financial year and similar to the current 2022/23 year.
($1 = 0.8276 pounds)
(Reporting by Andy Bruce; editing by William James)
Messaging: @brucereuters))
