August 09, 2022 08:24 GMT
AUSTRIA AUCTION PREVIEW
- On offer today: E1.150bln of RAGBs
- 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8)
- 3.15% Jun-44 RAGB (ISIN: AT0000A0VRQ6)
- Market colour: 10/22-year RAGB yields rose around 105bp from the beginning of May to June 16 highs of 2.490% and 2.538%. Yields have since fallen back to near early-May levels at around 1.448% and 1.728% respectively.
- 10-year spreads to the 0% Feb-32 Bund have widened just shy of 11bp since the beginning of May, briefly reaching a June 13 high of 61.6bp and are currently back around 59.8bp. 3.15% Jun-44 RAGB spreads to the 2.50% Jul-44 Bund were around 63.5bp at the time of writing, approx. 3bp below the August 4 high after widening just over 14bp since the beginning of May.
- Timing: Results will be available shortly after the auction closes at 1000 BST / 1100 CEST.