Spain's Tesoro Publico taps...>

SPAIN AUCTION PREVIEW: Spain's Tesoro Publico taps the 0.00% Apr-23 Bono, 0.00%

Jan-25 Bono, 0.50% Apr-30 Obli and 0.70% Nov-33 Obli-Ei issues for a combined

total of E4bln-5bln. 

- BACKGROUND: Spain has been outperforming Bunds in recent sessions on the back

of ECB stimulus speculation. MNI wrote an exclusive story yesterday noting the

ECB may cut its benchmark deposit rate and take targeted easing measures as soon

as at its meeting Mar 12 in a packaged response to the coronavirus epidemic,

according to ECB officials who told MNI.

RV/HISTORY: The 0.00% Apr-23 Bono trades at -0.408% mid-yield and was last sold

on Feb 6 for E1.600bln at an average yield of -0.301%, cover 2.9x (1.64x). Prior

to this it was sold launched on Jan 23 for E2.725bln at an average yield Average

yield -0.236%, cover 1.64x. The 5-year 0.00% Jan-25 Bono trades at -0.255%

mid-yield that was first sold on Feb 20 for E3.165bln at average yield -0.220%,

cover 1.57x. The 0.50% Apr-30 Obli trades at 0.196% mid-yield was last sold on

Feb 20 for E1.389bln average yield 0.235%, cover 2.28x. 

- TIMING: Results are due out at 0945GMT.