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Bill Supply For W/C Nov 22, 2021

EUROZONE T-BILL ISSUANCE

Germany, France, Austria and Italy are due to come to the market this week. MNI estimates bill sales at first round operations at E14.9bln for the week, down from E21.4bln last week.

  • Germany kicked off issuance Monday morning allotting E2.896bln of the new 12-month Nov 23, 2022 bubill with issuance volumes of E3bln.
  • Monday afternoon, France sold E5.591bln of BTFs, the top of the target range: E2.896bln of the 12-week Feb 16, 2022 BTF, E1.597bln of the new 23-week May 4, 2022 BTF and E1.098bln of the 49-week Nov 2, 2022 BTF.
  • On Tuesday, Austria allotted E650mln of the 2-month Jan 27, 2022 ATB and E500mln of the new 11-month Oct 20, 2022 ATB. Issuance volumes for both were E650mln.
  • Italy will conclude issuance for the week this morning, with the new 6-month May 31, 2022 BOT on offer for E5bln.

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