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On Dec 10 the.........>

FRANCE T-BILL AUCTION PREVIEW
FRANCE T-BILL AUCTION PREVIEW: On Dec 10 the Agence France Tresor taps the
market for up to E3.6bln in BTFs. On offer are E2.2-2.6bln of the 3-month Mar 6,
2019 BTF, and E0.6-1.0bln of the 6-month May 8, 2019 BTF. 
- HISTORY: For comparison at the last auction of BTFs on Dec 3: 
E2.8bln was allotted of the 3-month at an average yield of -0.67% with a cover
of 1.92x. 
E1.0bln was allotted of the 6-month at an average yield of -0.65% with a cover
of 3.51x. 
- RV/BACKGROUND: The short end of the French yield curve has lacked direction
throughout early December, drifting a little weaker if anything. The 3-month is
currently trading at -0.680% yield, and the 6-month at -0.652%.
- TIMING: Results will be due shortly after the auction closes at 1355GMT.  

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