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Bill Supply For W/C Jun 28, 2021

EUROZONE T-BILL ISSUANCE

Greece is scheduled to sell bills this morning while Italy, Germany and France held bill auctions Monday. We estimate E17.1bln will be sold through first round operations, a little higher than the E15.4bln sold last week.

  • Italy kicked off issuance Monday morning selling E6.5bln of the 6-month Dec 31, 2021 BOT.
  • Germany then allotted E3.521bln of the new 12-month Jun 22, 2022 bubill with issuance volumes of E4bln.
  • Monday afternoon saw France sell E5.988bln of BTFs: E2.595bln of the new 13-week Sep 29, 2021 BTF, E1.595bln of the 20-week Nov 17, 2021 BTF and E1.798bln of the 50-week Jun 15, 2022 BTF.
  • Greece will conclude issuance for the week (and quarter) this morning with E625mln of the new 26-week Dec 31, 2021 GTB on offer.

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