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/ESM T-BILL PREVIEW: On....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: /ESM T-BILL PREVIEW: On Tuesday Dec 4, the ESM taps
the markets for E2.0bln of new 3-month Mar 7, 2019 bills.
- HISTORY/RV: At the last sale on Nov 20, the Bundesbank, which conducts sales
on behalf of the ESM, sold E2.0bln of 6-month May 23 bills at average yield of
-0.563% and bid-to-cover ratio of 2.9x. The yield on the May 23 Bill has traded
between -0.516% and -0.529% since first being sold two weeks ago, and is
currently trading at -0.523% (BBG data).
- TIMING: Results are due shortly after the auction closes, around 1130GMT.

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