On Jan 22 the UK DMO looks.....>

GILT AUCTION PREVIEW: On Jan 22 the UK DMO looks for Stg1.75bln when it taps the

1.75% Sep-37 Gilt. 

- HISTORY: At the last auction of the Sep-37 Gilt on Nov 15: 

E2.3bln was allotted, average yield 1.92%, cover 1.75x. 

- RV/BACKGROUND: Gilts have sold off since the turn of the year as likelihood of

a no-deal Brexit has fallen dramatically - most sell side research suggests an

extension of article 50 is now most likely. 

The Sep-37 Gilt currently trades at a yield of 1.754% and can drive higher

should a no-deal Brexit be avoided in the coming months. 

UK Unemployment data for December comes out at 0930GMT. Expectation is 4.1%,

lower data towards 4.0% would surprise and Gilt yields would be expected to

trade higher. 

- TIMIMG: Results are due shortly after the auctions closes at 1030GMT.