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Bill Supply For W/C May 31, 2021

EUROZONE T-BILL ISSUANCE

Belgium, the ESM and Greece are still due to issue bonds this week while France issued yesterday. It will be a light week in terms of volumes with E9.6bln expected to be issued, down from E16.5bln last week.

  • France is kicked off bill issuance for the week yesterday, selling just under E6.5bln of BTFs on offer: E2.495bln of the new 13-week Sep 1, 2021 BTF, E1.696bln of the 20-week Oct 20, 2021 BTF and E2.297bln of the 50-week May 18, 2022 BTF.
  • Belgium will come to the market this morning looking to sell an indicative E800mln of the 3-month Sep 9, 2021 TCs (E0.6-1.0bln range).
  • The ESM will also come to the market today to sell E1.5bln of 3-month Sep 9, 2021 bills.
  • Tomorrow, Greece will look to sell E625mln of 26-week Dec 3, 2021 GRTBs.

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