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France's Agence.......>

FRANCE T-BILL AUCTION PREVIEW
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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