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Bill supply for W/C Jan 4th, 2021

EUROZONE T-BILL ISSUANCE
  • Germany, the Netherlands, France, Belgium, Greece and the ESM will issue bills in the W/C Jan 4, 2021. We estimate supply of E15.4bln compared to the supply of E7.3bln in the prior week.
  • ISSUANCE: Germany, the Netherlands and France will kick off issuance for the week on Monday. Germany will offer E4bln of the 6-month Jul 28, 2021 bubill. The Netherlands aims to sell E0.5-1.5bln of the short Apr 29, 2021 and long Jun 29, 2021 bills. France will then sell a combined total of E4.8-6.0bln of BTFs: E2.4-2.8bln of the 14-week Apr 14, 2021 BTF, E1.2-1.6bln of the 23-week and E1.2-1.6bln of the 49-week Dec 15, 2021 BTF.
    • On Tuesday, Belgium, Greece and the ESM will conclude bill issuance for the week. Belgium will sell May 13, 2021 and Jul 15, 2021 bills with amounts to be confirmed. Greece will sell the only new bill of the week, launching a 13-week Apr 9, 2021 bill for E625mln. The ESM will conclude issuance for the week with E1.5bln of the 3-month Apr 8, 2021 bill on offer.
  • For further details, please see MNI Eurozone and UK T-bill calendar.

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