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On Nov 21 the Deutschland....>

GERMAN AUCTION PREVIEW
GERMAN AUCTION PREVIEW: On Nov 21 the Deutschland Finanzagentur taps the market
for E3.0bln, selling the re-opened 0.00% Oct-23 Bobl.  
- HISTORY: For reference at the last auction of the 0.00% Oct-23 Bobl, E2.425bln
was allotted at an average yield of -0.18% with a bid-to-cover ratio of 1.23. 
- RV/BACKGROUND: On Nov 20 German bund yields fell lower, with the curve
flattening across the day. 
The 2-year benchmark yield trades at -0.601% off the days high of -0.591%.The
10-year is at 0.346% down from 0.375% and the 2s10s spread has narrowed to
93.9bps from 95.99bps. 
German GDP for Q3 is released on Friday at 0700GMT. 
- TIMING: Results will be due shortly after the auction ends at 0935GMT.

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