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Real-time insight on key fixed income and fx markets.
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Real-time insight of oil & gas markets
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Real time insight of credit markets
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Free AccessFrance's Agence.......>
FRANCE T-BILL AUCTION PREVIEW: France's Agence France Tresor (AFT) tap 3-month
Sep 12, 2018 BTF for E2.6-E3.0bln, issue a new 6-month Nov 21, 2018 BTF for
E0.6-E1.0bln and tap 12-month May 22, 2019 BTF for E0.6-E1.0bln on Monday
- RV: The long end of the BTF curve has outperformed the middle and long end
since the last auction on Jun 4, leading the curve to flatten slightly. The
3-month yield has fallen around 3bp and the 6-month part of the yield curve by
circa 2bp lower, while the 12-month part of the yield curve is in the region of
3.5bp lower.
- REDEMPTION: There will a BTF redemption of E8.24bln this week which leaves net
cash flow negative to the tune of E3.24bln which is seen underpinning demand at
the auction.
- HISTORY: At Jun 4 auction the AFT allotted E3.193bln 3-month BTF at an average
yield of -0.596% with cover of 2.36 times, allotted E1.299bln 6-month BTF at an
average yield of -0.595% with cover of 3.89 times and allotted E988mln 12-month
at average yield -0.565% and cover of 4.66 times.
- TIMING: Results due to be announced at around 1255GMT.
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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.