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Bill Supply For W/C Aug 30, 2021

EUROZONE T-BILL ISSUANCE

France and Belgium are the only countries due to sell bills this week. We estimate first round T-bill issuance of E7.66bln for the week, down from E19.0bln last week.

  • France will come to the market this afternoon, looking to sell up to E6.0bln of 12/23/49-week BTFs: E2.1-2.5bln of the 12-week Nov 24, 2021 BTF, E1.3-1.7bln of the new 23-week Feb 9, 2022 BTF and E1.4-1.8bln of the 49-week Aug 10, 2022 BTF.
  • Tomorrow, Belgium will look to sell E1.4-1.8bln of 4.5/6.5-month TCs: an indicative E800mln of each of the Jan 13, 2022 TC and the Mar 10, 2022 TC.

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