The UK DMO will tap the...>

UK T-BILL AUCTION PREVIEW: The UK DMO will tap the market on Dec 21 for their

weekly T-bill tender. On offer are the 1-month Jan 21, 2019 T-bill, the 3-month

Mar 25, 2019 T-bill and 6-month Jun 24, 2019 T-bill. Stg1.5bln is being sold of

each T-bill. 

- HISTORY: For comparison, at last weeks tender the DMO allotted: 

Stg1.5 of the 1-month T-bill, average yield 0.50%, bid-to-cover 3.43x. 

Stg1.5 of the 3-month T-bill, average yield 0.64%, bid-to-cover 2.38x. 

Stg1.5 of the 6-month T-bill, average yield 0.76%, bid-to-cover 2.75x. 

- RV/BACKGROUND: Potential for a second EU referendum was floated by Work &

Pensions Secretary Amber Rudd on Thursday but immediately rebuffed by Andrea

Leadsom. With no increased likelihood for either side and an as expected BoE

monetary decision, short sterling rates are little moved. Greens and Blues are

generally 1-1.5 ticks higher with Whites and Reds unchanged throughout Thursday.

- TIMING: Results are due shortly after the auction has closed around 1030GMT.