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Free AccessSlovakia taps 2 lines of...>
SLOVAKIA AUCTION PREVIEW: Slovakia taps 2 lines of bonds on Monday, E131mln each
of SLOVGB 0.625% 2026 (#231) and E100mln SLOVGB 1.875% 2037 (#232).
- BACKGROUND: Today is the last Slovakia auction of the year. This is not the
most liquid of curves and so auctions provide liquidity moments. There are no
redemptions or coupon payments to help today but weekly Eurozone issuance is
very small.
- RV/HISTORY: Generally speaking Slovakia paper has cheapened to other semi-core
EGBs and the 2037 spread to Belgium is at its widest since July. The SLOVGB
0.625% 2026 trades at 1.18%% mid-yield. It was last sold in June when it yielded
0.71% and had a cover of 1.68x. The SLOVGB 1.875% 2037 yields 1.667% mid-yield
and was sold in Sept when the average yield was 1.69%. Slovakian debt looks
tight to equivalent Dutch and German paper.
- TIMING: Auction cut-off at 0900GMT, results are due around 0915GMT.
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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.