On Nov 26 the.........>

GERMAN T-BILL AUCTION PREVIEW: On Nov 26 the Deutschland Finanzagentur taps the

market for E2.0bln selling the 3-month Feb 13, 2019 Bubill.

- HISTORY: For comparison at the last auction of a 6-month Bubill on Sep 24,

Germany allotted E1.39bln at an average yield of -0.59%, bid-to-cover ratio of

2.08x, and Buba cover of 1.45x.

- RV/BACKGROUND: German bunds rallied across the curve with the long end

outperforming on Nov 23 as poor PMI results, particularly in the auto sector,

and a sell off in oil dampened investor risk sentiment.

The 10-year Bund Dec-18 is trading at the top of it's range at 161.15, 45 ticks

up for the day and it's highest level since the Aug 31st low of 161.33.

At the short end of the curve the 2-year bund yield is down 0.7bps for the day

at -0.647% having traded in a range of -0.652 to -0.620.

All eyes will be on Brussels over the weekend as European leaders meet with UK

PM May to discuss Brexit.       

- TIMING: Results will be due shortly after the auction closes at 1030GMT.