The Deutsche Finanzagentur...>

GERMAN AUCTION PREVIEW: The Deutsche Finanzagentur come to market on Tuesday

looking for a combined E0.8bln. On offer are the 0.10% Apr-26 iBund for E0.5bln,

and 10% Apr-46 iBund for E0.3bln.

- HISTORY: For comparative purposes at the last opening of the aforementioned

bonds: 

On Oct 9 2018, the 0.10% Apr-26 iBund sold at an average yield of -1.12%, cover

2.68x. 

On Sep 4 2018,the 0.10% Apr-46 iBund sold at an average yield of -0.67%, cover

1.13x. 

- BACKGROUND: Bund yields have been falling at a constant pace across the last

4-months with Eurozone data becoming ever more recession like and Brexit fog

refusing to clear. 

German bunds weakened after midday on Monday with the longer-end underperforming

the curve. The 2s30s spread has traded up to 134.8bps from an afternoon low of

133.3bps.

- TIMING: Results will be due shortly after the auction closes at 1030GMT