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Tuesday will see the.........>

GERMAN AUCTION PREVIEW
GERMAN AUCTION PREVIEW: Tuesday will see the Deutsche Finanzagentur tap the new
0.00% Mar-21 Schatz for E5.0bln. 
- HISTORY: This is the first issue of the above bond. 
- BACKGROUND: News that Trump would delay an increase in trade tariffs on China
fuelled risk-on sentiment on Monday. Bunds have subsequently underperformed
periphery EGBs, with the Schatz yield trading up 1.5bps at -0.553% on Monday. 
The auction should be well supported after E16bln in Bobl redemptions returned
to market on Friday.  
German Gfk consumer confidence data for March is released at 0700GMT prior to
the auction.      
- TIMING: Results will be due shortly after the auction closes at 1030GMT.   

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