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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
France's Agence.......>
FRANCE T-BILL AUCTION PREVIEW: France's Agence France Tresor (AFT) issue a new
3-month Feb 21, 2018 BTF for between E3.3-E3.7bln, tap 6-month Apr 11, 2017 BTF
for between E1.0-E1.4bln and tap 12-month Nov 7, 2018 BTF for between
E0.7-E1.1bln on Monday.
- RV: The BTF curve has modestly bull steepened since last weeks auction with
the 3-month part of the yield curve around 4bp lower, the 6-month part of the
yield curve is around 1.5bp lower, while the 12-month part of the yield curve
are is little changed.
- REDEMPTION: There will be a redemption this week of E6.091bln, therefore could
leave net cash flow positive to the tune of E109mln which is seen weighing on
demand at the auction.
- HISTORY: At Nov 13 auction the AFT allotted E2.795bln 3-month BTF at an
average yield of -0.685% with cover of 2.54 times and allotted sold E1.194bln
6-month BTF at an average yield of -0.672% with cover of 3.64 times and allotted
E1.496bln 12-month BTF at average yield -0.643% and cover of 2.56 times.
- TIMING: Results due to be announced at around 1355GMT.
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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.