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Bill supply for W/C Jan 4th

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: 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 an indicative amount of E1.8-2.2bln on offer, around E1bln for each of the issues. 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.
  • RECAP: On Monday, Germany, the Netherlands and France sold bills. Germany allotted E1.51bln of the 6-month Jul 28, 2021 bubill. The Netherlands sold E1.55bln combined vs a E0.5-1.5bln target of the short Apr 29, 2021 (E850mln) and long Jun 29, 2021 (E700mln) DTCs. France sold a combined total of E5.994bln of BTFs, the top end of the E4.8-6.0bln target range: E2.797bln of the 14-week Apr 14, 2021 BTF, E1.598bln of the 23-week and E1.599bln of the 49-week Dec 15, 2021 BTF.
  • For further details, please see MNI Eurozone and UK T-bill calendar.

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