Newsquawk Daily Bond Auction Preview - 5th November 2026

Previews of UK, EU and US government bond auctions including the size of issuance, time of the auction(s), estimates, redemptions, coupons and analyst commentary. Spain to sell EUR 4.5-5.5bln 3.10% 2031, 3.40% 2036, 3.50% 2041 Bono & EUR 0.25-0.75bln 0.70% 2030 Bono I/L Analysis: Given the relatively small amount on offer, and Spain's typically strong demand in auctions, this sale should go well. Recent History: 3.10% 2031: b/c 2.72x & average yield 2.947% 3.40% 2036: b/c 1.64x, average yield 4.176% 3.50% 2041: b/c 2.12x & average yield 3.813% Results due shortly after the 09:30GMT bidding deadline France to sell EUR 10-12bln 3.70% 2036, 4.00% 2038, 2.50% 2043 and 4.40% 2057 OAT Analysis: Focus remains on the fiscal situation in France. The current draft budget for 2027 was overwhelmingly rejected, and has now been sent to the Senate. As such, further deliberations will restart in December. The OAT-Bund spread remains wide (currently 149bps), but off the extreme peaks made last month, which saw the spread surpass 175bps. Amidst the ongoing uncertainty, and after Fitch's recent outlook downgrade on France, this outing may face some headwinds. Recent History: 3.70% 2036: b/c 2.00x, average yield 4.93% 4.00% 2038: b/c 2.86x & average yield 3.92% 2.50% 2043: b/c 2.45x & average yield 3.94% 4.40% 2057: b/c 3.33x & average yield 4.55% Results due shortly after the 09:55GMT bidding deadline