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Bill Supply For W/C Nov 15, 2021: Recap


Germany, the Netherlands, France, Spain, the ESM, the EU and Ireland all sold bills this week. Issuance for the week totalled E21.4bln from first round operations, down from E25.4bln last week.

  • On Monday morning, Germany allotted E2.681bln of the 5-month Apr 21, 2022 bubill and E2.201bln of the 11-month Oct 19, 2022 bubill. Issuance volumes for both were E3.0bln.
  • The Netherlands sold E1.50bln of the 3.5-month Feb 25, 2022 DTC and E1.61bln of the 5.5-month Apr 28, 2022 DTC. The issuance target for each of the issues were E1-2bln.
  • Monday afternoon, France sold E6.189bln BTFs, the top of the target range: E2.998bln of the new 13-week Feb 16, 2022 BTF, E1.794bln of the 20-week Apr 6, 2022 BTF and E1.397bln of the 50-week Nov 2, 2022 BTF.
  • Tuesday morning, Spain sold a combined E1.898bln of letras against a E1.5-2.5bln target: E505mln 3-month Feb 11, 2022 letras and E1.393bln 9-month Aug 12, 2022 letras.
  • Also Tuesday, the ESM sold E1.5bln of new 6-month May 19, 2022 bills.
  • On Wednesday, the EU reopened the 3-month Feb 4, 2022 EU-bill for E998mln and the 6-month May 6, 2022 EU-bill for E994mln.
  • Ireland concluded issuance for the week on Thursday by reopening the 5-month Apr 25, 2022 bill for E750mln.

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