Free Trial

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
Nov 6, 2017 T-bill for Stg0.5bln, re-open 3-month Jan 8, 2018 T-bill for
Stg1.0bln and issue a new 6-month Apr 9, 2018 T-bill for Stg2.0bln Friday. 
- BACKGROUND: T-bill issuance remains at lower levels, but still above the lows
seen earlier in the 2017/18 fiscal year. While mid-yields have continued to
squeeze higher this week.
- REDEMPTION: There is a T-bill redemption of Stg4bln on Monday, leaving net
cash flow negative to the tune of Stg0.5bln, which is seen underpinning demand.
- HISTORY: For comparison, at the last UK T-bill auction on Sep 29, the DMO sold
Stg0.5bln 1-month T-bill at average yield 0.082% cover 4.8 times, Stg1.0bln
3-month at average yield 0.221% cover 1.665 times, and Stg2.0bln 6-month at
average yield 0.353% cover 2.225 times. 
- TIMING: Results are due to be announced at around 1005GMT.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.