Greece's Public.......>

GREECE T-BILL AUCTION PREVIEW: Greece's Public Debt Management Agency (PDMA)

issue a new 13-week May 11, 2018 T-bill for E875mln Wednesday. 

- RV: Average yield at the last 13-week T-bill auction dropped below 1% for the

first time since Oct 2009, however, recent market volatility in Equities might

push yield back above this level.

- HISTORY: For comparison at the last 13-week T-bill auction on Jan 10 the PDMA

sold E812mln at an average yield of 0.99% and bid-to-cover of 3.44 times. Prior

to that on Dec 13 the PDMA allotted E1.3bln at average yield of 1.60% and cover

of 1.87 times. 

- NON-COMP: The PDMA will once again allocate an extra 30% of amount auctioned

in non-comp bids, and a further 30% in second day bids, to bring total amount to

be issued to E1.4bln. There will be a E1.4bln T-bill redemption on Feb 9, which

is seen underpinning demand at the auction. 

- TIMING: Results due to be announced at around 1015GMT