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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
PORTUGAL T-BILL AUCTION PREVIEW: Portugal's debt.....>
PORTUGAL T-BILL AUCTION PREVIEW: Portugal's debt agency, Instituto de Gestao da
Credito Publico (IGCP) re-open 6-month Jul 20, 2018 T-bill and issue a new
12-month Jan 18, 2019 T-bill for a combined amount of between E1.5-E1.75bln on
Wednesday.
- RV: Mid-yield on Nov 16, 2018 T-bill is currently seen at -0.475%, towards the
bottom end of its 1-month range of between -0.361% and -0.498%. As for the new
12-month Jan 18, 2019 T-bill the grey market is indicating a mid-yield of
-0.384% which is a 9bp pick vs Nov 16, 2018 T-bill and -5.4bp compared to Eonia.
- HISTORY: For comparison at the last 6-month T-bill auction on Nov 15, IGCP
allotted E400mln at average yield -0.400% and covered 2.91 times. At the
12-month T-bill auction also on Nov 15 IGCP allotted E1.1bln at average yield
-0.349% and bid-to-cover of 2.10 times.
- REDEMPTION: There is a T-bill redemption of E3.466bln this week, therefore,
could leave net cash flow negative to the tune of E1.696bln which is seen
underpinning demand.
- TIMING: Auction results are due to be announced around 1040GMT.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.