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Germany will sell the 0%.....>

GERMAN AUCTION PREVIEW
GERMAN AUCTION PREVIEW: Germany will sell the 0% Jun-22 Schatz on Tuesday for
E5bn.
- RV/HISTORY: April-May has been a choppy session for bunds given the heightened
uncertainty over the economic outlook and multitude of policy developments such
as the recent German constitutional court ruling and last week's Franco-German
recovery fund proposal. Yields have broadly trended lower and the curve has
flattened somewhat. Regional CPI data for May will be published ahead of the
Tuesday auction which could be a potential flashpoint should the data miss by a
widen margin. However, the recent rebound in PMI data and uptick in the IFO
readings on Monday suggest that economic activity is starting to stabilise. 
- TIMING: Results are due out after the auction closes at 1030BST.

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