Friday will see the UK....>

UK T-BILL AUCTION PREVIEW: Friday will see the UK DMO hold their weekly bill

tender where they will look for a total of Stg4.0bln. On offer are the 1-month

Mar 25 2019 bill, 3-month May 28 2019 bill, and 6-month Aug 27 2019 bill. 

- RESULTS: Results of last weeks tender are listed below: 

1-month: average yield 0.68%, cover 3.63x, on 15/02/19.

3-month: average yield 0.74%, cover 2.28x, on 15/02/19.

6-month: average yield 0.78%, cover 2.39x, on 15/02/19. 

- BACKGROUND: The short sterling strip moved lower on Thursday. Whites were flat

to 1 tick

lower, Reds 1 tick lower and Greens and Blues generally 1.5 ticks lower on the

day. UK public finance data was better than expected with tax income and capital

gains tax revenues higher than expected but politics remains the driver.

The 1-month bill currently trades at yield of 0.584%, 3-month bill at 0.631%,

and 6-month bill at 0.788%. 

- TIMING: Results are due shortly after the auction closes at 1100GMT.