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
Dec 11, 2017 T-bill for Stg0.5bln, re-open 3-month Feb 12, 2018 T-bill for
Stg1.0bln and issue a new 6-month May 14, 2018 T-bill for Stg2.0bln Friday. 
- BACKGROUND: T-bill issuance remains at Stg3.5bln, however with political and
Brexit uncertainty rising yet again yields could squeeze lower compared to last
week.
- REDEMPTION: There is a T-bill redemption of Stg3.0bln on Monday, leaving net
cash flow positive to the tune of Stg500mln, which is seen weighing on demand.
- HISTORY: For comparison, at the last UK T-bill auction on Nov 3, the DMO sold
Stg0.5bln 1-month T-bill at average yield 0.318% cover 4.89 times, Stg2.0bln
3-month at average yield 0.381% cover 4.65 times, and Stg2.0bln 6-month at
average yield 0.449% cover 2.32 times. 
- TIMING: Results are due to be announced at around 1105GMT.

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.