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

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

launch a new 26-week Feb 1, 2019 T-bill for E625mln Wednesday. 

- BACKGROUND: Having hit a low of 0.70%, average yield at the 26-week Greek

T-bills actions have pushed higher in the last couple of months and look to have

established another floor at 0.85%.

- HISTORY: For comparison at the last 26-week T-bill auction on Jul 6 the PDMA

sold E1.625bln at average yield of 0.85% and bid-to-cover of 1.38 times. Prior

to this on Jun 6 auction the PDMA sold E1.625bln at average yield 0.85% and

covered 1.46 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 E1bln. There will be a E1bln T-bill redemptions on Aug 3, which is

seen underpinning demand at the auction. 

- TIMING: Results due to be announced around 0910GMT.