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Decent auction

BELGIUM AUCTION RESULTS
  • The first conventional Belgian auction of the year (i.e. not a syndication or ORI operation) saw decent demand with the stop price a decent distance above the pre-auction mid-price across all three OLOs on offer today. The top of the target range of E3.9bln was sold across the three issues.
  • Despite moving a bit higher after the bidding deadline, all three OLOs continue to trade below the stop price in today's auction.

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