Free Trial

On Dec 11 the Tesoro...>

SPAIN T-BILL AUCTION PREVIEW
SPAIN T-BILL AUCTION PREVIEW: On Dec 11 the Tesoro Publico will tap the market
for a combined E0.5-1.5bln. On offer are the 3-month Mar 8, 2019 Letras and
9-month Sep 17, 2019 Letras. 
- HISTORY: For comparison at the last auction of the Letras on Nov 20: 
E0.54bln of the 3-month Letras was allotted, average yield of -0.604%, cover of
3.95x. 
E2.49bln of the 6-month Letras was allotted, average yield of -0.349%, cover of
2.43x.  
- RV/BACKGROUND: The Euribor curve shifted around 0.5 ticks lower on Dec 10, in
line with White and Red Eurodollar contracts. Eurodollar Greens and Blues rose
around 0.5 ticks higher as the week began on fairly quiet footing.
A brief word on the wider Spanish political landscape: Last Sunday saw the break
through of the far-right Vox party in Andalucia, they become the first far-right
party to gain a seat in the Spanish parliament since the Franco era.      
- TIMING: Results will be due shortly after the auction has closed at 0935GMT.  

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.