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Germany will issue the new...>

GERMAN AUCTION RESULTS
GERMAN AUCTION RESULTS: Germany will issue the new 0.0% Feb-30 bund on Wednesday
for E5.0bln.
- RV/HISTORY: January is a heavy month for EGB issuance, including multiple
syndications. This will be a new 10-year bund and the largest new issue so far
this year. The current 10-year benchmark trades at a yield of -0.294% down from
-0.223% at the beginning of the year and 37bp inside the comparable EUR swap.
Bunds have rallied since the beginning of the year largely on the back of
renewed global risk aversion amid the US-Iran fallout. One potential flashpoint
will be German factory orders data, which will be published ahead of Wednesday's
auction. 
- TIMING: Results are due out at 1030GMT

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