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On Jan 9 the Deutsche........>

GERMAN AUCTION PREVIEW
GERMAN AUCTION PREVIEW: On Jan 9 the Deutsche Finanzagentur comes to market for
E4.0bln, selling the new 0.25% Feb-29 Bund.
- RV/BACKGROUND: Bunds enjoyed a good last quarter of 2018 as geo-political
concerns coupled with the equity market collapse saw investors head towards safe
havens. 
Tuesdays German industrial output data missed all expectations, the EUR seemed
to shrug it off as the DAX made gains whilst the Bund lost ground.  
The Mar-19 Bund future is currently at 163.69, just above Dec 1 2017 and Aug 17
2018 highs of 163.67. 
The 163.67 level was broken to the upside on Jan 2 2019 but has price has since
traced and the level now becomes resistance.  
- TIMING: Results will be due shortly after the auction closes at 1030GMT. 

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