Free Trial

Bulls Remain In The Driver’s Seat



Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Spain's Tesoro.........>

SPAIN T-BILL AUCTION PREVIEW: Spain's Tesoro Publico re-open 6-month Jun 15,
2018 Letra and issue a new 12-month Dec 7, 2018 Letra on Tuesday for a combined
amount of between E4.0bln to E5.0bln. 
- RV: For the 6-month Jun 15, 2018 Letra, bid-yield is currently see at -0.381%,
towards the top end of its 1-month range of between -0.364% and -0.403%. As for
the new 12-month Dec 7, 2018 Letra, the grey market is indicating a mid-yield of
around -0.370% which is 1.1bp discount to the Nov 16, 2018 Letra according to
- HISTORY: For comparison the last 6-month auction back on Nov 14, the Tesoro
sold E1.27bln at average yield of -0.415% with cover 2.46 times. At the last
12-month Letra auction also on Nov 14, the Tesoro sold E4.7bln at average yield
-0.39% and covered 1.57 times.
- REDEMPTION: There is a Spain Letra redemption of E7.466bln this week which
could leave net cash flow negative to the tune of E2.466bln which is seen
underpinning demand.
- TIMING: Results are due to be announced at around 0940GMT.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.