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Germany will re-open the.....>

GERMAN AUCTION PREVIEW
GERMAN AUCTION PREVIEW: Germany will re-open the 0.0% Aug-29 Bund for E3.0bln on
Wednesday.
- BACKGROUND: This will be the second German auction this week following the
issuance of a new 0.0% Dec-21 Schatz on Tuesday. At the last auction of the 0.0%
Aug-29 Bund on October 23, E2.5bln was allotted at average yield of -0.41% and
bid-to-cover of 1.94x. 
- RV/HISTORY: Bunds have sold off over the past week, partly on the back of
lingering optimism on a potential US-China trade deal. The 0.0% Aug-29 Bund
trades at a yield of -0.246% up from a low of -0.714% on August 28 and 38bp
inside the comparable EUR swap. Inflation expectations have similarly recovered
in recent months with the 10-year German breakeven trading at 0.94% up from a
low of 0.68% in June.    
- TIMING: Results are due out around 1030GMT.

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