The Slovakian Ardal will...>

SLOVAKIA AUCTION PREVIEW: The Slovakian Ardal will come to market on Monday for

E0.2bln. On offer are the 1.0% Jun-28 SGB, and 2.0% Oct-47 SGB.

- HISTORY: The results of the last auction of the above bonds are listed below: 

1.0% Jun-28: average yield 0.83%, cover 4.35x, on 21/01/2019. 

2.0% Oct-47: average yield 1.88%, cover 3.10x, on 21/01/2019.

- BACKGROUND: Slovakian yields have fallen across the curve since October as

risk appetite has been soured by the European slow down. 

The 1.0% Jun-28 yield has steadily come down from 1.048% on Oct 10 to currently

trade at 0.717%, with European data still disappointing it is more likely yields

will continue to fall than rebound.

The 2.0% Oct-47 yield has been less reactive to recent economic conditions and

currently trades at 1.749%.        

- TIMING: Results will be due shortly after the auction closes at 1000GMT.