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On Friday the UK DMO......>

UK T-BILL AUCTION PREVIEW
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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