On Dec 7 the UK Debt......>

UK T-BILL AUCTION PREVIEW: On Dec 7 the UK Debt Management Office will hold

their weekly T-bill tender. On offer are the 1-month Jan 7, 2019 T-bill for

Stg0.5bln, the 3-month Mar 11, 2019 T-bill for Stg1.0bln, and 6-month Jun 10,

2019 T-bill for Stg2.0. 

- HISTORY: For comparison at last weeks tender: Stg0.5bln of the 1-month T-bill

was allotted at an average yield of 0.73%, cover of 3.63x. 

Stg1.0bln of the 3-month T-bill was allotted at an average yield of 0.65%, cover

of 3.58x. 

Stg2.0bln of the 6-month T-bill was allotted at an average yield of 0.77%, cover

of 2.26x. 

- RV/BACKGROUND: The front-end of the gilt curve lacked direction across

Thursday whilst the longer-end has rallied, the 2-year benchmark yield holding

within the 0.723/0.749% range. Inflation breakevens edged lower through to

mid-morning before ticking up after midday. 

- TIMING: Results will be due shortly after the auction has closed around

1030GMT.