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Decent MT OAT auction

FRANCE AUCTION RESULTS
  • That was a decent MT OAT auction with a higher-bid-to-cover for the 2.50% Sep-26 OAT than in March (despite a higher volume) and bids totaling over E30bln in nominal terms across all three lines - up from E26.6bln in the March auction.
  • E11.5bln was sold, in line with the top end of the guidance, but this was a little lower than the E12.0bln sold in March.

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