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Previewing the OAT linker.........>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Previewing the OAT linker auction later today,
Khrishnamoorthy Sooben at Barclays writes "The total range indicated and the
inclusion of the OATei47 in the set of bonds mean that the total DV01 issued
could, theoretically, be large, although the risk of that happening is
significantly reduced with the OATei21 also being tapped. Yesterday, the OATei21
and OATei24 underperformed in RV on the breakeven curve, while the OATei47 was
in line with its peers."

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