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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI POLITICAL RISK - Trump Tariffs Initiate Talks With Mexico
The Finanzagentur will tap...>
GERMAN AUCTION PREVIEW: The Finanzagentur will tap the market for E3.0bln on
Wednesday. On offer is the 0.00% Apr-24 Bobl.
- BACKGROUND: Wednesday's auction follows the sale of two bund linkers on
Tuesday. The 0.00% Apr-24 Bobl was last tapped on April 10 with E2.48bln
allotted at an average yield of -0.41%, bid-to-cover ratio of 1.49x and Buba
cover of 1.80x.
- RV/HISTORY: The renewed flare up in the US-Chinese trade dispute has once
again focused attention on the risks to international trade and the numerous
headwinds to global growth. This has pulled down longer-end bund yields and
flattened the bund curve. The 0.00% Apr-24 Bobl serves as the 5-year benchmark
and has similarly rallied following the fresh slew of US-China trade headlines.
The issue currently trades at a yield of -0.457%, marking a fresh low for the
year and is also the lowest reading since 2017. The issue trades 45.8bps inside
the comparable EUR swap.
- TIMING: Results are due shortly after the auction closes at 1030BST.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.