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7/10/20-year OLOs

BELGIUM AUCTION PREVIEW
MNI (London)
  • On offer will be: a combined E2.3-3.1bln of the 0.90% Jun-29 OLO (ISIN: BE0000347568), 0.35% Jun-32 OLO (ISIN: BE0000354630) and the 0.40% Jun-40 OLO (ISIN: BE0000350596).
  • Market colour: Today will be the first reopening of the new 0.35% Jun-32 OLO, which was launched via syndication on January 18 for E5.0bln, with books of E21.0bln. Spreads to Bunds on 10-year OLOs have widened around 10bp since early February, with a substantial 8bp spike on March 4th as tensions regarding the Ukraine war heightened. 10-year OLO yields have grown around 50bp since the beginning of February, dipping at the beginning of March and then recovering sharply to continue to grow.
  • Timing: Results will be available shortly after the auction closes at 11:00 GMT / 12:00 CET.

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