UK’s Debt Chief Sees Bond ‘Sweet Spot’ After Record Sale

The UK’s Debt Management Office looks set to continue skewing issuance toward shorter-maturity bonds as it capitalizes on investor appetite for a record sale of 10-year notes this week.

Chief Executive Jessica Pulay said in an interview she sees a “sweet spot” for offerings that sit between many investors’ definitions of short and long maturities. The DMO increased the size of Tuesday’s sale of new debt maturing in 2035 via banks to a record £13 billion ($16.2 billion) thanks to the high quality of the largest orderbook it ever attracted, she said.