Free Trial

0% Feb-31 RAGB / 0.75% Mar-51 RAGB

AUSTRIA AUCTION PREVIEW
MNI (London)

Austria will come to the market today to sell E1.495bln of the 10/30-year RAGB in their first auction of 2022.

  • On offer will be:
    • 0% Feb-31 RAGB. ISIN: AT0000A2NW83.
    • 0.75% Mar-51 RAGB. ISIN: AT0000A2EJ08.
  • Auction history: The 0% Feb-31 RAGB was launched via syndication on January 27, 2021, selling E4.0bln nominal at an average yield of -0.331%. The bond has since been reopened ten times, with substantially smaller auction sizes ranging between E633-978mln (with between E550-850mln allotted). The most recent auctions were on December 14 and October 5. The December auction allotted E700mln at a yield of -0.156%, resulting in a bid-to-offer of 2.20x (bid-to-cover 1.91x). The October auction saw E550mln allotted at a yield of -0.031% and the highest bid-to-cover of the year for the issue of 2.52x.
  • The 0.75% Mar-51 RAGB was launched via syndication in March 2020 for EUR2.5bln. It reopened the bond four times via auction achieving a bid-to-offer of 2.08x (bid-to-cover 1.81x) in the most recent auction on April 6, 2021. This auction saw E450mln allotted at an average yield of 0.521%. The previous reopening was on Jan 12, 2021 where E550mln was allotted at a yield of 0.159% and a bid-to-offer of 2.14x (bid-to-cover 1.86x).
  • Timing: Results are due shortly after the auction closes at 10:00GMT / 11:00CET.

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.