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The Agence France.....>

FRANCE T-BILL AUCTION PREVIEW: The Agence France Tresor comes to market on Jan
07 for a combined E3.8-5.4bln. On offer are the Mar 4 2019, May 6 2019, May 8
2019, and Jan 2 2020 BTFs. 
- HISTORY: For comparison at the last auction of BTFs on Jan 2, 2019: 
E2.92bln was sold of 3-month BTFs, average yield -0.57%, cover 2.54x.
E1.10bln was sold of 6-month BTFs, average yield -0.57%, cover 3.03x. 
E0.96bln was sold of 12-month BTFs, average yield -0.57%, cover 3.68x. 
- RV/BACKGROUND: On Friday last week the short-end of the French OAT curve
rallied from the open but traded sideways through most of the day, while the
longer-end has progressively sold off. 2s30s has been relatively flat for most
of the day. 
- TIMING: Results are due shortly after the auction closes at 1350GMT. 

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