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0.30% Oct-31 OT

PORTUGAL AUCTION PREVIEW
MNI (London)
  • On offer today: E500-750mln of the 0.30% Oct-31 OT (ISIN: PTOTEOOE0033)
  • Market colour: Yields have risen shy of 190bp since the beginning of the year, with a 40bp fall at the Feb 28 due to the shock of the Ukraine war outbreak. Yields recovered by March 10 and had since climbed to hit a high of just below 2.40% yesterday. They are now around 6bp off those highs at the time of writing.
  • Spreads to the 0% Aug-31 Bund have widened around 46bp since the beginning of the year and were just under 113bp at the time of writing, close to the June 3 high.
  • Timing: Results will be available shortly after the auction closes at 1030 BST / 1130 CEST.


Auction history:

DateIssuedAvg yieldBid/coverPricePre-auctOperation
Current2.342%
Last 4 aveE661mln0.556%1.68x
09-Feb-22E706mln1.008%1.27x93.5093.47Auction
10-Nov-21E686mln0.314%1.46x99.8699.73Auction
27-Oct-21E681mln0.387%99.15Exchange
09-Jun-21E700mln0.397%1.53x99.0298.92Auction
12-May-21E551mln0.505%2.47x97.9297.70Auction
07-Apr-21E4bln0.344%99.55NewSynd

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