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On Dec 27 the..........>

ITALY T-BILL AUCTION PREVIEW
ITALY T-BILL AUCTION PREVIEW: On Dec 27 the Departimento del Tesoro tap the
market for E6.5bln, selling the new 6-month Jun 28, 2019 BOT.
HISTORY: For comparison, at the last auction of a 6-month BOT on Nov 28: 
E6.6bln was allotted, average yield 0.163%, cover 1.60x. 
RV/BACKGROUND: The 6-month Italian BOT has been trading higher throughout
December as the EU and Rome appear to be heading towards agreement on the
Italian budget.
6-month Euribor is currently at -0.238 and has steadily increased across Q4.   
TIMING: Results will be due shortly;y after the auction closes at 1005GMT.  

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