Markets await Spain & French bond actions, UK Oct retail sales stronger than exp, Today's Premium Insights are due before the US opening bell.
SPAIN AUCTION RESULTS around 9:40 GMT=====
Spain plans to sell a new Jan 2022 bond with coupon at 5.85%, raising between EUR 3-4 bln. The last 10-year auction was on Oct 20, raised EUR1.8 bln at an average yield of 5.4%, with a bid/cover ratio of 1.76 times. Spanish 10 yr yields have soared to a new Eurozone-era high of 6.68%, pushing the spread of German 10-year yields at 4.90%.
FRANCE AUCTION RESULTS DUE around 10:00 GMT======
French plans to sell 2-year and 5-year bonds (BTAN), raising between EUR 6-7 bln. The last 2013 BTAN auction (maturing on 2013) was on Sep 20, raised EUR 2.3 bln at an average yield of 1.08%, with bid/cover ratio of 2.66 times. The 2016 BTAN auction was on Sep 20, raised EUR 3.5 bln at an average yield of 1.80% and bid/cover ratio of 1.54 times. The 2016 BTAN was last sold on Feb 17, 2011.
UK Oct Retail Sales are stronger across the board, +0.6% m/m vs exp -0.5% m/m from prev 0.5%, y/y +0.9% from prev +0.5% vs exp -0.1%
SPAIN AUCTION RESULTS around 9:40 GMT=====
Spain plans to sell a new Jan 2022 bond with coupon at 5.85%, raising between EUR 3-4 bln. The last 10-year auction was on Oct 20, raised EUR1.8 bln at an average yield of 5.4%, with a bid/cover ratio of 1.76 times. Spanish 10 yr yields have soared to a new Eurozone-era high of 6.68%, pushing the spread of German 10-year yields at 4.90%.
FRANCE AUCTION RESULTS DUE around 10:00 GMT======
French plans to sell 2-year and 5-year bonds (BTAN), raising between EUR 6-7 bln. The last 2013 BTAN auction (maturing on 2013) was on Sep 20, raised EUR 2.3 bln at an average yield of 1.08%, with bid/cover ratio of 2.66 times. The 2016 BTAN auction was on Sep 20, raised EUR 3.5 bln at an average yield of 1.80% and bid/cover ratio of 1.54 times. The 2016 BTAN was last sold on Feb 17, 2011.
UK Oct Retail Sales are stronger across the board, +0.6% m/m vs exp -0.5% m/m from prev 0.5%, y/y +0.9% from prev +0.5% vs exp -0.1%