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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 Apr
16, 2018 T-bill for Stg0.5bln, re-open 3-month Jun 18, 2018 T-bill for Stg1.0bln
and issue a new 6-month Sep 17, 2018 T-bill for Stg2.0bln Friday. 
- BACKGROUND: T-bill issuance falls to Stg3.5bln this week, the lowest amount
since the Stg3.0bln issued on Feb 23. While yields look to have either remained
steady or ticked lower with the curve flattening slightly.
- REDEMPTION: There is a T-bill redemption of Stg3.5bln on Monday, therefore
leaves net cash flow flat which is seen underpinning demand.
- HISTORY: For comparison, at the last UK T-bill auction on Mar 2, the DMO sold
Stg2.0bln 1-month T-bill at average yield 0.288% cover 1.94 times, Stg1.0bln
3-month at average yield 0.334% cover 2.7 times, and Stg2.0bln 6-month at
average yield 0.496% cover 3.31 times. 
- TIMING: Results are due to be announced at around 1105GMT.

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