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Mixed ACGB Nov '32 Auction Internals


The cover ratio on the latest round of ACGB Nov '32 supply wasn't particularly firm, printing in the mid 2s, but the pricing through prevailing mids at the time of supply (0.46bp, per Yieldbroker) was more reassuring than what was witnessed at last week's ACGB Nov '31 auction. No reaction in XM futures in the wake of the auction, but we should flag that ACGB Nov '32 does not form part of XMU1's underlying basket.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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