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Equities Extend Recovery, Nears Friday High


April Trade Deficit Widens

SLOVENIA T-BILL AUCTION PREVIEW: On Tuesday the Slovenian debt management office
will tap the market for E0.14bln across 3-month May 16 2019, 6-month Aug 14
2019, and 12-month Feb 13 2020 bills.
- HISTORY: For comparative purposes, the last auction for the bills are below: 
 3-month bill: average yield -0.39%, cover 1.67x, on 11/09/18.
 6-month bill: average yield -0.40%, cover 2.40x, on 09/10/18.
12-month bill: average yield -0.39%, cover 5.43x, on 09/10/18.
- BACKGROUND: Slovenia was one many Eurozone countries to cut it's GDP growth
forecast last week; forecasts for 2019 fell from 3.3% to 3.1%, whilst the 2020
growth forecast was revised from 3% to 2.8%. The economy has been exposed to the
wider slowdown in the Eurozone area where it exports 70% of it's production,
with it's main export (cars) being one of the hardest sectors.    
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 1100GMT.