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The UK's Debt.............>

UK T-BILL AUCTION PREVIEW
UK T-BILL AUCTION PREVIEW: The UK's Debt Management Office (DMO) re-open 1-month
Aug 29, 2017 T-bill for Stg0.5bln, re-open 3-month Oct 30, 2017 T-bill for
Stg0.5bln and issue a new 6-month Jan 29, 2018 T-bill for Stg1.0bln Friday. 
- BACKGROUND: Following a steady increase in T-bill issuance during July,
today's issuance have fallen back sharply and suggest an easing in the cash flow
requirement.
- REDEMPTION: There is a T-bill redemption of Stg3.0bln on Monday, leaving net
cash flow negative to the tune of Stg1bln, which is seen underpinning demand.
- HISTORY: For comparison, at the last UK T-bill auction on Jul 21, the DMO sold
Stg0.5bln 1-month T-bill at average yield 0.115% cover 3.68 times, Stg1.5bln
3-month at average yield 0.150% cover 2.02 times, and Stg2.5bln 6-month at
average yield 0.243% cover 3.298 times. 
- TIMING: Results are due to be announced at around 1005GMT.

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