Free Trial

Bill Supply for W/C May 16, 2022

EUROZONE T-BILL ISSUANCE

Germany, the Netherlands, France, the ESM, Portugal, the EU and Ireland will all look to sell bills this week. We estimate issuance through first round operations of E17.4bln, down from E21.8bln last week.

  • Germany will come to the market this morning to offer E3bln of the new 12-month May 17, 2023 bubill.
  • This morning will also see the Netherlands look to sell E1.0-1.5bln of each of the 3.5-month Aug 30, 2022 DTC and the 6-month Nov 23, 2022 DTC.
  • This afternoon, France will look to sell up to E5.6bln of BTFs: E2.6-3.0bln of the new 13-week Aug 17, 2022 BTF, E1.0-1.4bln of the 22-week Oct 19, 2022 BTF and E0.8-1.2bln of the 48-week Apr 19, 2023 BTF.
  • Tomorrow, the ESM will look to sell up to E1.1bln of the new 6-month Nov 17, 2022 bill.
  • Portugal will come to the market on Wednesday to sell a combined E1.50-1.75bln of the new 6-month Nov 18, 2022 BT and the new 12-month May 19, 2023 BT.
  • The EU will then look to sell up to E1.0bln of the 3-month Aug 5, 2022 EU-bill and up to E1.5bln of the 6-month Nov 4, 2022 EU-bill.
  • Ireland will conclude bill issuance for the week on Thursday. Details will be announced on Monday but we would expect the 5-month Oct 24, 2022 IRTB to be reopened for E750mln.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.