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On Tuesday the.......>

BELGIUM T-BILL AUCTION PREVIEW
BELGIUM T-BILL AUCTION PREVIEW: On Tuesday the Belgian Debt Management Office
will tap the market for E2.0bln. On offer are the 3-month May 9 2019, and
12-month Jan 16 2020 Treasury Certificates.
- HISTORY: For comparative purposes, the last auction for the bills are below: 
 3-month TC: average yield -0.54%, cover 2.22x, on 05/02/19.  
12-month TC: average yield -0.54%, cover 1.41x, on 15/01/19.
- BACKGROUND: Throughout the latter half of January, the 12-month bill traded at
a lower yield to the 3-month with 3month Vs 12month spread peaking at -1bps on
Jan 31. Since the start of February 12month yields have closed the spread and
now trade 0.6bps above the 3month bill. The 3-month TC currently trades at a
yield of -0.499% with the 12-month at -0.493%.    
The Euribor strip saw smaller moves in the front end on Monday, Whites unchanged
on the day, Reds flat to 1 ticks lower, Greens 1.5-2.5 ticks lower and Blues
2.5-3 ticks lower.
- TIMING: Results are due shortly after the auction closes at 1030GMT.