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Bill Supply for W/C Jan 10, 2022 (1/2)

EUROZONE T-BILL ISSUANCE

Italy is still due to issue today and we look for a further E6.5bln of issuance. On top of the E21.7bln we have already seen this would leave issuance from first round operations at E28.2bln, up from E17.3bln last week.

  • Germany kicked off issuance on Monday morning allotting E3.830bln of the 3-month Apr 21, 2022 bubill and E1.863bln of the 9-month Oct 19, 2022 bubill. Issuance volumes were E4bln and E2bln respectively, but there had been the intention ahead of the auction to have equal sizes of E3bln each.
  • Monday afternoon saw France sell E5.864bln of BTFs, close to the top of the target range: E2.573bln of the new 13-week Apr 13, 2022 BTF, E1.596bln of the 20-week Jun 1, 2022 BTF and E1.695bln of the 51-week Jan 4, 2023 BTF.

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