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Free AccessFrance will auction the......>
FRANCE AUCTION PREVIEW: France will auction the the 0.0% Nov-29 OAT, 1.25%
Nov-34 OAT and the 0.75% May-52 OAT Thursday for a combined size of
E8bln-9.5bln.
- RV/HISTORY: The French curve has unwound some of its flattening move in recent
sessions as the front-end outperforms on ECB stimulus speculation. France has
underperformed Bunds in recent weeks but has managed to unwind some of this
underperformance with 10-year OAT/Bund yield spread last at +30.7bps vs +32.6bps
Monday. The 0.0% Nov-29 OAT trades at -0.316% mid-yield and was last sold on Feb
6 for E4.931bln at average yield -0.11%, cover 2.16x. The 1.25% Nov-34 OAT
trades at -0.087% and was last sold on Feb 6 for E1.565bln at an average yield
of 0.16% and cover 2.16x. The 0.75% May-52 OAT trades at 0.447% mid-yield and is
the first tap since it was syndicated for E5bln on Jan 28 at OAT 1.5% 05/2050
+4bps Reoffer price 100.659/reoffer yield 0.727%.
- TIMING: Results are due out at 0950GMT.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.