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SlovGBs on Offer

SLOVAKIA AUCTION PREVIEW
MNI (London)

On offer today:

  • E100mln of the 0.25% May-25 SlovGB (ISIN: SK4000017158)
  • E75.5mln of the 1.00% Jun-28 SlovGB (ISIN: SK4120014150)
  • E150mln of the 0.375% Apr-36 SlovGB (ISIN: SK4000018958)
  • E100mln of the 2.00% Oct-47 SlovGB (ISIN: SK4120013400)

Market colour:

  • SlovGBs yields of bonds on offer today are around 1-6bp below the highs seen last week.
  • 3/6-year SlovGB yields increased approx. 185bp and 200bp since the dip at the beginning of August, whilst 14/25-year SlovGBs yields are up around 215bp and 165bp since Aug 1.
  • SlovGB spreads are near recent highs.
  • 3-year SlovGB spreads to the Bobl widened to a high of 84.0bp on Oct 12 and are currently standing around 76.9bp. 6-year spreads to the Bund are just 1bp off Friday's high at 106.1bp.
  • 14/25-year SlovGBs spreads are standing around 182.2bp and 153.0bp at present, 3bp and 1bp below highs seen on Oct 14 and 7.

Timing: Results will be available shortly after the auction closes at 1000 BST / 1100 CEST.

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