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Free AccessAfter last weeks mammoth..........>
EUROZONE ISSUANCE: After last weeks mammoth volume, issuance cooled this week
with E13.3bln issued Vs E37.4bln last week.
Italy, Germany, and Spain are all came to market.
- RECAP: Issuance for the week began on Tuesday when Italy issued a new 15-yr
Benchmark BTP through syndication for E7.5bln.
On Wednesday Germany allotted E1.2bln when tapping the 1.25% Aug-48 Bund.
Weekly issuance was wrapped up on Thursday with Spain coming to market for a
combined E4.6bln selling the 0.05% Oct-21, 0.35% Jul-23, 2.75% Oct-24, and 1.50%
Arp-27 Bono/Oblis.
- CASH FLOW: This week saw E18.8bln worth cash flows returning to market
(E14.9bln in redemptions, E3.9bln in coupons). This left a net cash flow of
negative E5.5bln this week, versus positive E37.4bln last week.
** For full details, please see MNI Eurozone bond auction calendar:
* Cash Flow Matrix: http://marketnews-m.objects.xtenit.com/CFM140119.pdf
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.