Fri 07 Sep 2012 01:51:24 CT
AUCTION PREVIEW: UK GBP 3.0bln combined 1-, 3- & 6-month T-Bill Auctions
Today the UK DMO is conducting its 1-, 3- & 6-month T-Bill Auctions where it expects to raise a combined amount of GBP 3.0bln. In terms of historical data:
- The 1-month T-Bill was last auctioned on 31st Aug'12 with a bid/cover ratio of 1.96 (yield 0.234%). The last three 1-month T-Bill auctions have seen an average bid/cover ratio of 2.71 (average yield 0.226%). The UK DMO is to sell GBP 1.0bln of 1-month T-Bills.
- The 3-month T-Bill was last auctioned on 31st Aug'12 with a bid/cover ratio of 3.43 (yield 0.242%). The last three 3-month T-Bill auctions have seen an average bid/cover ratio of 3.27 (average yield 0.240%). The UK DMO is to sell GBP 0.5bln of 3-month T-Bills.
- The 6-month T-Bill was last auctioned on 31st Aug'12 with a bid/cover ratio of 2.59 (yield 0.293%). The last three 6-month T-Bill auctions have seen an average bid/cover ratio of 2.64 (average yield 0.293%). The UK DMO is to sell GBP 1.5bln of 6-month T-Bills.
Results expected shortly after 1110 BST.
AUCTION PREVIEW: US Fed's Outright Treasury Coupon Sale Feb'13 – Feb'14
Today the NY Fed is conducting its Outright Treasury Coupon Sale in the maturity range Feb 2013 – Feb 2014. This is the fifth operation of this series as part of the Fed's new maturity extension program, and until August 30th 2012, the Fed expects to buy approximately USD 32.00bln in the remaining 11 operations and sell USD 38bln in the remaining 5 operations. It is worth noting that the Fed originally planned to buy about USD 44bln in 15 operations and sell about USD 38bln in 5 operations.
In today's operation, the Fed expects to sell in the range of USD 7.00bln – USD 8.00bln. The last Outright Treasury Coupon sale operation in the maturity range of 0.5 – 1.5 years was on the 3rd August 2012, with a sale size of USD 7.80bln and a submitted/accepted ratio of 9.53.
This Operation is tentatively scheduled to begin around 1515 BST (1015 EDT) and close at 1600 BST (1100 EDT). Results are released shortly after 1600 BST (1100 EDT).
Sources: http://www.dmo.gov.uk, http://www.newyorkfed.org/markets/tot_operation_schedule.html
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