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5/10-year RABGs

AUSTRIA AUCTION PREVIEW
MNI (London)
  • On offer today: A combined E1.38bln of RAGBs
    • 0.50% Apr-27 RAGB (ISIN: AT0000A1VGK0)
    • 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8)
  • Market colour: 5-year yields have risen around 160bp since the beginning of the year, and 10-year yields by 95bp since the late-March launch.
  • 5-year spreads to the 0% Apr-27 Bobl saw a Feb 2 low of approx. 11bp widen to the May 9 high of 27bp, and had narrowed to around 23bp at the time of writing. 10-year spreads to the 0% Feb-32 Bund widened around 15bp from late March to the May 24 high of approx. 56bp, and have since narrowed around 3bp at time of writing.
  • Timing: Results will be available shortly after the auction closes at 1000 BST / 1100 CEST.

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