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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 Mar
12, 2018 T-bill for Stg0.5bln, re-open 3-month May 14, 2018 T-bill for Stg0.5bln
and issue a new 6-month Aug 13, 2018 T-bill for Stg2.0bln Friday. 
- BACKGROUND: T-bill issuance remains at Stg3bln this week, yields look to have
squeezed higher following hawkish BoE MPC meeting yesterday that could see rates
rise as soon as May 22. However sharp sell-off in US and Asian equities could
see some safe-haven bid.
- REDEMPTION: There is a T-bill redemption of Stg3.0bln on Monday, therefore
leaves net cash flow flat, which is seen underpinning demand.
- HISTORY: For comparison, at the last UK T-bill auction on Feb 2, the DMO sold
Stg0.5bln 1-month T-bill at average yield 0.272% cover 5.09 times, Stg0.5bln
3-month at average yield 0.270% cover 4.85 times, and Stg2.0bln 6-month at
average yield 0.441% cover 3.41 times. 
- TIMING: Results are due to be announced at around 1105GMT.

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