Free Trial

Bill supply for W/C Apr 12, 2021

EUROZONE T-BILL ISSUANCE

Germany, France, Spain, Belgium, Finland, the ESM and Ireland will all come to the market this week to sell bills. We estimate issuance through first round operations of E22.6bln for the week, a little below last week's E24.8bln.

  • Germany kicks off issuance this morning with E4bln of the 6-month Oct 27, 2021 bubill.
  • This afternoon, France looks to sell up to E6.5bln of BTFs: E2.1-2.5bln of the 12-week Jul 7, 2021 BTF, E1.4-1.8bln of the new 23-week Sep 22, 2021 BTF, E0.1-0.5bln of the 45-week Feb 23, 2022 BTF and E1.3-1.7bln of the 49-week Mar 23, 2022 BTF.
  • Tomorrow, Spain will issue letras with volumes to be announced today. On offer will be 6-month Oct 8, 2021 letras and new 12-month Apr 8, 2022 letras.
  • Belgium looks to sell E1.8-2.2bln of TCs. An indicative E800mln of the Short Jul 15, 2021 TC and an indicative. E1.2bln of the Long Mar 10, 2022 TC.
  • Finland looks to sell E2bln of RFTBs: E1bln of each of the 7-month Nov 9, 2021 RFTB and the 10-month Feb 14, 2022 RFTB.
  • The ESM will also come to the market tomorrow to sell E1.1bln of the new 12-month Apr 14, 2022 bill.
  • Ireland will conclude issuance for the week with details of the auction to be announced today. So far this year, all ITB auctions have been for E750mln.
For details of upcoming T-bill auctions see the MNI Eurozone/UK T-bill auction calendar here.

To read the full story

Close

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.