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Bill Supply for W/C Mar 7, 2022 (1/2)

EUROZONE T-BILL ISSUANCE
MNI (London)

This week is a busy week for bill issuance across the Eurozone. Germany, the Netherlands, France, Spain, Belgium, Finland, the ESM have issued bills for E22.5bln so far and Greece and Italy are still scheduled to sell bills for an estimated further E6.6bln. We look for issuance from first-round operations of E29.1bln, up from E25.4bln last week.

  • Yesterday, Germany came to the market, selling E6.0bln of bubills: E3.0bln (E2.932bln allotted) of the 3-month Jun 22, 2022 bubill and a further E3.0bln (E2.145bln allotted) the 9-month Dec 14, 2022 bubill.
  • Also yesterday, the Netherlands sold E2.68bln of DTCs (versus a E2.0-4.0bln target range): E450mln of the Apr 28, 2022 DTC, E1.0bln of the Jun 29, 2022 DTC, E230mln of the Aug 30, 2022 DTC and E1.0bln of the new Sep 29, 2022 DTC.
  • On Monday afternoon, France sold E5.692bln (top of the target range) of 13/20/30/50-week BTFs: E3.097bln the new 13-week Jun 9, 2022 BTF, E997mln of the 20-week Jul 27, 2022 BTF, E399mln of the 30-week Oct 5, 2022 BTF and E1.199bln of the 50-week Feb 22, 2023 BTF.

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