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6/10-year RAGBs

AUSTRIA AUCTION PREVIEW
MNI (London)
  • On offer today: a combined E1.495bln of 6/10-year RAGBs
    • 0% Oct-28 RAGB (ISIN: AT0000A2VB47)
    • 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8)
  • Market colour: 6/10-year RAGB yields rose through April and May to the mid-June high of 2.221% and 2.490% respectively. Yields have since fallen back around 60-70bp.
  • 6/10-year RAGB spreads to the Bund widened around 20bp and 23bp respectively from the beginning of Feb through to the mid-June highs of approx. 47bp and 62bp. 6-year RAGB spreads to the Bund have since narrowed a modest 1.5bp, whilst 8-year spreads have narrowed just over 5bp off the high.
  • Timing: Results will be available shortly after the auction closes at 1000 BST / 1100 CEST.

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