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Free AccessOn Friday the UK DMO......>
UK T-BILL AUCTION PREVIEW: On Friday the UK DMO will look for E3.5bln at their
weekly tender. On offer are Stg0.5bln of 1-month Mar 18 2019 bills, Stg1.5bln of
3-month May 20 2019 bills, and Stg1.5bln of 6-month Aug 19 2019 bills.
- HISTORY: The results of last weeks tender are listed below:
1-month: average yield 0.68%, cover 4.01x.
3-month: average yield 0.74%, cover 2.56x.
6-month: average yield 0.79%, cover 2.64x.
- BACKGROUND: UK markets continue to be suppressed by Brexit uncertainty with
yields falling across the full length of the curve.
The Mar 18 2019 bill currently trades at a yield of 0.683%, and the May 20 2019
bill at 0.639%. The Aug 19 2019 bill is a new issue, for comparative purposes
the current 6-month benchmark trades at a yield of 0.748%. While the Short
Sterling strip rose 1-1.5 ticks higher across Thursday.
- TIMING: Results are due shortly after the auction closes at 1100GMT.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.