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Bill Supply For W/C Dec 7

EUROZONE T-BILL ISSUANCE
Germany, France, Italy, Belgium, Ireland and Greece will issue bills in the W/C Dec 7. We estimate supply of E18.8bn compared to E13.9bn the previous week.
  • ISSUANCE: Germany will kick off T-bill issuance for the week with an auction of the Jun 9, 2021 bubill for E1.5bn. France will then sell 3-/6-/12-month BTFs for a combined E5.2-6.4bn. On Tuesday Belgium will sell Mar 11, 2021 and Nov 11, 2021 TCs with issue volumes TBA. Italy will hold an auction of 12-month BOTs for E7bn on Wednesday. On the same day Greece will sell E625mn of 12-month bills. Ireland is scheduled to hold an auction on Thursday with details TBA.
  • CASH FLOWS: E20.4bn in redemptions will leave net cash flows at E-1.6bn for the week.
** For further details please see MNI Eurozone T-Bill Calendar.

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