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Free AccessFrance's Agence.......>
FRANCE T-BILL AUCTION PREVIEW: France's Agence France Tresor (AFT) on Monday
sell new 3-month Nov 28, 2018 BTF for E2.4-2.8bln, tap 6-month Jan 16, 2019 BTF
for E0.7-1.1bln, and tap 12-month Aug 14, 2019 BTF for E0.4-0.8bln, for a total
of E3.5-4.7bln.
- RV: BTF 3-month and 6-month yields have edged slightly lower since the last
auction on Aug 20, but 12-month yields are 1.9bps higher.
- REDEMPTION: There will be E5.228bln in BTF redemptions this week which leaves
net cash flow returning to market between E0.5-1.7bln, which is seen
underpinning demand at the auction.
- HISTORY: At Aug 20 auction the AFT allotted E2.797bln 3-month BTF at an
average yield of -0.547% with cover of 2.81 times, allotted E1.050bln 6-month
BTF at an average yield of -0.612% with cover of 3.33 times, and allotted
E1.097bln 12-month at average yield -0.551% and cover of 3.11 times.
- TIMING: Results due to be announced at around 1255GMT.
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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.