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

EUROZONE T-BILL ISSUANCE
MNI (London)

Germany, the Netherlands, France, Spain, Belgium and the ESM have sold bills for E22.9bln so far this week. Greece and the EU remain yet to sell bills this week for an estimated further E3.1bln. We estimate E26.0bln will be sold at first round operations, up from E19.2bln last week.

  • On Monday, Germany sold E3bln of the 3-month Aug 24, 2022 bubill (E2.330bln allotted) and E3bln (E1.791bln allotted) of the 9-month Feb 22, 2023 bubill.
  • The Netherlands then sold towards the top of the E2.0-3.0bln target range: E1.5bln of the 3-month Jul 28, 2022 DTC and E1.34bln of the 5-month Sep 29, 2022 DTC.
  • Monday afternoon, France sold the top of the E5.6bln target range of BTFs: E3.193bln of the new 13-week Aug 3, 2022 BTF, E0.900bln of the 20-week Sep 21, 2022 BTF, E0.399bln of the 26-week Nov 2, 2022 BTF and E1.065bln of the 50-week Apr 19, 2023 BTF.

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