On Wednesday the Deutsche....>

GERMAN AUCTION PREVIEW: On Wednesday the Deutsche Finanzagentur will come to the

market for E4.0bln, on offer is the 0.00% Apr-24 Bobl. 

- HISTORY: The result of the last auction of the above bond is listed below: 

Apr-24 Bobl: average yield -0.29%, cover 1.20x, on 23/01/19.   

- BACKGROUND: The German curve has continued to flatten in 2019, led largely by

falling yields in maturities above the 5yr section as growth expectations have

slowed at a quicker than expected rate. 

The decline German yields have been outstripped by peripheries so far in 2019,

causing Eurozone spreads to narrow. 

This week Bunds have outperformed other EGBs across the curve, helped in large

part by the announcement of a new 30yr French syndication on Monday and poor

Italian industrial orders data on Tuesday. 

The 5yr Bobl benchmark currently trades at a yield of -0.39%.     

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