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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 Oct
8, 2018 T-bill for Stg2.0bln, re-open 3-month Dec 10, 2018 T-bill for Stg2bln
and issue a new 6-month Mar 11, 2019 T-bill for Stg1.5bln Friday. 
- BACKGROUND: T-bill issuance remains at Stg5.5bln this week, although this is
till relatively high compared to the average for this year. Brexit appears to be
the main issue affecting the UK markets and with the deadline coming ever closer
to agree a withdrawal deal, safe haven buying may increase.
- REDEMPTION: There is a T-bill redemption of Stg5bln 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 Aug 31, the DMO sold
Stg2bln 1-month T-bill at average yield 0.715% cover 1.86 times, Stg2bln 3-month
at average yield 0.7282% cover 2.32 times, and Stg1.5bln 6-month at average
yield 0.738% cover 2.22 times. 
- TIMING: Results are due to be announced at around 1005GMT.

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