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UK T-BILL AUCTION RESULTS

GBP2.5bln of 1/3/6-month UKTBs

BONDS

BTP/Bund spread widening by 1.7bps

MARKET INSIGHT

Price Signal Summary - S&P E-Minis Fresh All-Time Highs

EUR

EURUSD exchange traded option

UK Data: Rec&Culture, Sea Fares, Food Unwind Drives CPI to Joint-18m Low    
--UK September CPI +0.1% m/m; +2.4% y/y vs +2.7% August
--UK September Core CPI Flat m/m; +1.9% y/y vs +2.1% August 
--UK Aug House Prices +3.2% y/y vs +3.4% y/y Jun; London prices -0.2%y/y 
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CPI inflation eased to a joint-18-month low in September, courtesy 
of an unwinding of inflationary factors - all highlighted by MNI ahead 
of the release. Recreation and Culture, contributing -0.08pp to the 
overall CPI change, transport (-0.09pp, of which -0.07pp was sea fares) 
and food (-0.09pp) all relieved inflationary pressure. An upward 
influence came from energy prices (+0.05pp) after a raft of suppliers 
hiked tariffs - also picked up by MNI. Output prices, up 0.2pp to 3.1% 
y/y, and input prices, up 0.9pp to 10.3% y/y, both nudged higher in Sep, 
courtesy of rising oil prices. Meanwhile, house price growth continued 
to ease. Prices in the capital fell for the 7th time in the past 12m.