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0.475% Oct-30 OT

PORTUGAL AUCTION PREVIEW
MNI (London)
  • On offer today: E500-750mln of the 0.475% Oct-30 OT (ISIN: PTOTELOE0028) - a former 10-year benchmark.
  • Market colour: 0.475% Oct-30 OT yields have risen approx. 170bp since launch, reaching a high of 2.064% on Monday, and softening approx. 19bp to 1.876% at time of writing.
  • Spreads to the 0% Aug-30 Bund have widened around 45bp since the beginning of the year. The second half of March saw spreads narrow just over 10bp, however momentum was regained in April, since reaching a high of over 100bp on Monday. Spreads had since ticked down a little to trade around 97.6bp at time of writing.
  • Timing: Results will be available shortly after the auction closes at 1030 BST / 1130 CEST.


Auction history: Most recent auctions

DateIssuedAvg yieldBid/coverPricePre-auctOperation
Current1.876%
Last 5 aveE706mln0.207%2.36x
14-Jul-21E622mln0.127%2.29x103.20102.97Auction
10-Mar-21E625mln0.237%2.32x102.26102.02Auction
13-Jan-21E500mln-0.012%3.02x104.75104.48Auction
09-Sep-20E964mln0.329%2.19x101.45Auction

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