On Nov 20 the UK Debt..........>

GILT AUCTION PREVIEW: On Nov 20 the UK Debt Management Office comes to market

for Stg0.5bln selling the re-opened Gilt I/L 0.125% Nov-56.

HISTORY: At the last auction of the Gilt I/L 0.125% Nov-56 on Jul 11, 2017, the

DMO allotted Stg2.5bln through syndication. 

RV/BACKGROUND: It's been all quiet on the Brexit front thus far this week.

Whether the so called 1922 committee will reach the 48 letters need to force a

confidence vote remains to be seen.  

On Nov 19 Gilts have rallied throughout the day with the curve broadly flat. The

10-year is down to 1.375% from 1.434% with the Dec gilt future trading at 123.07

from a morning low of 122.53.

The short sterling futures strip is down 1.0-4.0 ticks and has flattened

slightly.

TIMING: Results are due shortly after the auction closes at 1030GMT.