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UK's Debt Management......>

UK T-BILL AUCTION PREVIEW
UK T-BILL AUCTION PREVIEW: UK's Debt Management Office (DMO) re-open 1-month Feb
26, 2018 T-bill for Stg0.5bln, re-open 3-month Apr 30, 2018 T-bill for Stg0.5bln
and issue a new 6-month July 30, 2018 T-bill for Stg2.0bln Friday. 
- BACKGROUND: T-bill issuance remains at Stg3bln this week, yields look to have
squeezed higher this week, and they could come under further upward pressure as
investors look ahead to BoE MPC meeting on Feb 8.
- REDEMPTION: There is a T-bill redemption of Stg3bln on Monday, leaving net
cash flow flat, which is seen underpinning demand.
- HISTORY: For comparison, at the last UK T-bill auction on Jan 19, the DMO sold
Stg0.5bln 1-month T-bill at average yield 0.279% cover 5.25 times, Stg0.5bln
3-month at average yield 0.290% cover 6.58 times, and Stg2.0bln 6-month at
average yield 0.452% cover 2.95 times. 
- TIMING: Results are due to be announced at around 1105GMT.

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