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Bill issuance is set to....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Bill issuance is set to tick up slightly to E19.1bln
this week, from E15.3bln last week. Eight countries are coming to market.
- RECAP: On Monday, Germany kicked off sales for the week, allotting E1.7bln of
6-month Aug 14, 2019 Bubills. Later Monday, France sold a total of E4.9bln in
BTFs: E2.6bln of 3-month Jun 13, 2019, E0.9bln of 5-month Jul 31, 2019, E0.5bln
of 6-month Sep 11, 2019, and E0.9bln 12-month Feb 26, 2020.
- ISSUANCE: On Tuesday, Spain sells 3-month Jun 14, 2019 and 9-month Dec 6, 2019
Letra for between E1.0-2.0bln. Also that morning, Italy sells E6.5bln of new
12-month Mar 13, 2020 BOT. Later, Slovenia sells 3-month Jun 13, 2019, 6-month
Sep 12, 2019, and 12-month Mar 12, 2020 bills for a combined E0.14bln. Belgium
concludes a busy Tuesday, selling E1.0bln of 2-month May 9, 2019 TC, E0.8bln of
3-month Jul 11, 2019 TC, and E1.8bln of 12-month Mar 12, 2020 TC. On Wednesday,
Greece sells new 12-month Mar 13, 2020 bills for E0.625bln. And finally, on
Thursday morning, Ireland sells E0.5bln of new 12-month Mar 16, 2020 bills.
- CASH FLOW: With E12.3bln in redemptions this week (mainly France and Italy),
net cash flow will come in at positive E6.8bln, vs negative E4.8bln last week.

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