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France will auction the......>

FRANCE AUCTION PREVIEW
FRANCE AUCTION PREVIEW: France will auction the the 0.0% Nov-29 OAT, 1.25%
May-36 OAT and the 1.50% May-50 OAT for a combined E8.0-9.5bln on Thursday. 
- BACKGROUND: Previous auction results (date, volume, average yield,
bid-to-cover): 0.0% Nov-29 OAT (Nov 7 2019, E5.2bln, -0.03%, 2.12x); 1.25%
May-36 OAT (Jun 6 2019, E1.58bln, 0.66%, 2.64x); 1.50% May-50 (Nov 7 2019,
E2.5bln, 0.79%, 1.51x ).
- RV/HISTORY: The French OAT curve has bull flattened since the beginning of the
year on the back of renewed global risk aversion following the escalation in
US-Iran tensions. Spreads over bunds have narrowed slightly with the 10-year
OAT-Bund differential falling to 26b from 31bp at the beginning of the year.
This is a relatively heavy week for EGB supply, including several syndications.
There are no major data releases ahead of the Thursday auction.
- TIMING: Results are due out at 0950GMT

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