FRANCE T-BILL AUCTION PREVIEW: On offer next week
France has announced it will be looking to offer up to a combined E7.0bln of the following 12/14/26/52-week BTFs at its auction next Monday, September 9:
- E2.6-3.0bln of the 12-week Dec 4, 2024 BTF
- E0.2-0.6bln of the 14-week Dec 18, 2024 BTF
- E1.2-1.6bln of the 26-week Mar 12, 2025 BTF
- E1.4-1.8bln of the new 52-week Sep 10, 2025 BTF
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GILT AUCTION RESULTS: 4.125% Jul-29 Gilt
| 4.125% Jul-29 Gilt | Previous | |
| Amount | GBP4.00bln | GBP4.00bln |
| Avg yield | 3.854% | 4.023% |
| Bid-to-cover | 2.87x | 3.10x |
| Tail | 0.9bp | 0.9bp |
| Avg price | 101.208 | 100.459 |
| Low price | 101.167 | 100.420 |
| Pre-auction mid | 101.195 | 100.483 |
| Previous date | 17-Jul-24 |
MNI EXCLUSIVE: MNI: RBNZ Cut A Coin Flip - Ex Staffers
The RBNZ will have to consider a slowing economy and a worsening jobs market next week, ex staffers say. -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
COMMODITIES: Bear Threat in WTI Futures Remains Present
A bear threat in WTI futures remains present and the contract traded lower Monday, extending the current downtrend. Sights are on the next key support at $72.23, the Jun 4 low. It has been pierced, a clear break would reinforce bearish conditions and pave the way for an extension towards $70.73, the Feb 5 low. Key resistance is seen at $78.88, the Aug 1 high. Short-term gains would allow an oversold condition to unwind. Recent weakness in Gold appears to be a correction - for now. However, note that the yellow metal has managed to pierce support at the 50-day EMA - at $2375.3. A clear break of this average would signal scope for a deeper retracement towards $2277.4, the May 3 low and a key support. For bulls, a resumption of gains would open $2483.7, the Jul 17 high and a bull trigger. Clearance of this hurdle would resume the uptrend.
- WTI Crude up $0.27 or +0.37% at $73.49
- Natural Gas up $0.02 or +0.85% at $2.026
- Gold spot up $2.18 or +0.09% at $2392.99
- Copper down $6.9 or -1.71% at $395.9
- Silver down $0.09 or -0.33% at $26.9035
- Platinum up $5.99 or +0.65% at $921.22
