Free Trial

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

UK T-BILL AUCTION PREVIEW
UK T-BILL AUCTION PREVIEW: UK's Debt Management Office (DMO) re-open 1-month Aug
6, 2018 T-bill for Stg1.5bln, re-open 3-month Oct 8, 2018 T-bill for Stg1.5bln
and issue a new 6-month Jan 7, 2018 T-bill for Stg2.0bln Friday. 
- BACKGROUND: T-bill issuance increases to Stg5bln for the first time this tear.
Short Sterling strip has edged lower since last weeks auction following upbeat
UK June PMI and comments fro BoE Governor Mark Carney, with chance of a rate
hike in August now at 80%.
- REDEMPTION: There is a T-bill redemption of Stg4.5bln on Monday, therefore
leaves net cash flow positive to the tune of Stg0.5bln which is seen weighing on
demand.
- HISTORY: For comparison, at the last UK T-bill auction on Jun 29, the DMO sold
Stg1.5bln 1-month T-bill at average yield 0.505% cover 1.4 times, Stg1.5bln
3-month at average yield 0.587% cover 3.15 times, and Stg1.0bln 6-month at
average yield 0.631% cover 3.18 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.