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Bill supply for W/C Apr 26, 2021

EUROZONE T-BILL ISSUANCE

Italy and Greece will conclude bill issuance for April this week on Wednesday while Germany and France have already issued bills this week. We estimate E18.1bln of issuance from first round operations, down from E23.1bln last week.

  • Germany kicked off issuance for the week yesterday morning allotting E3.746bln of the new 12-month Apr 21, 2022 bubill with issuance volumes of E4bln.
  • Yesterday afternoon, France sold E6.783bln of BTFs: E2.794bln of the 12-week Jul 21, 2021 BTF, E1.795bln of the 21-week Sep 22, 2021 BTF, E0.499bln of the 39-week Jan 26, 2022 BTF and E1.695bln of the new 51-week Apr 21, 2022 BTF.
  • Italy will come to the market tomorrow morning looking to sell E6.5bln of the new 6-month Oct 29, 2021 BOT.
  • Greece will also come to the market tomorrow with E625mln of the new 26-week Oct 29, 2021 GTB on offer.
For details of upcoming T-bill auctions see the MNI Eurozone/UK T-bill auction calendar here.

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