RISING YIELDS IN EUR WHILST BOC EXPECTED TO HOLD

Germany will reopen Bund 1% May38 and Bund 2.5% Aug46 for a total of EUR 2bn. Portugal will reopen PGB 2.125% Oct28 and PGB 1.15% Apr42 for EUR 1.5-1.75bn. And the EU will tap EU bill 5Apr24 for up to EUR 1bn and EU bill 5Jul24 for the same amount.