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Bill Supply For Nov 1-2, 2021: Recap

EUROZONE T-BILL ISSUANCE

Germany and the Netherlands both sold bills Monday for a total of E9.1bln while Belgium, the ESM and France sold a further E9.6bln yesterday.

  • Germany kicked off issuance for the week selling a total E6bln of 3/9-month bubills - although the issuance split was changed from the originally proposed E3bln each. E4.318bln of the 3-month Feb 23, 2022 bubill was allotted with issuance volumes of E4.5bln and E1.465bln of the the 9-month Aug 24, 2022 bubill was allotted with issuance volumes of E1.5bln.
  • Monday morning also saw the Netherlands sell E1.56bln of each of the Feb 25, 2022 DTC and the new Apr 28, 2022 DTC. Issuance targets for each were E1-2bln.
  • Belgium kicked off Tuesday morning's issuance selling E1.801bln of TCs, the top of the target range: E896mln of the 4-month Mar 10, 2022 TC and E905mln of the 6-month the May 12, 2022 TC.
  • The ESM then sold E1.5bln of the new 3-month Feb 3, 2022 bill.
  • Tuesday afternoon, France sold E6.287bln of BTFs (again the top of the target range): E3.094bln of the new 13-week Feb 2, 2022 BTF, E1.896bln of the 22-week Apr 6, 2022 BTF and E1.297bln of the 48-week Oct 5, 2022 BTF.

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