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Bill Supply For W/C Nov 23

EUROZONE T-BILL ISSUANCE
Germany, France and Italy will issue bills in the W/C Nov 23. We estimate supply of E16.5bn compared to E14.1bn last week.
  • ISSUANCE: Germany will be the first to come to market with a sale of the Apr 14, 2021 and Oct 27, 2021 bubills on Monday for a combined E3bn. France will then sell a combination of 3-/6-/12-month BTFs for E5.8-7.0bn. Italy is scheduled to come to market on Thursday to auction BOTs with issue details and target volume TBA.
  • CASH FLOWS: E11.4bn in redemptions will leave net cash flows at E5.1bn for the week.
** For further details please see MNI Eurozone T-Bill Calendar

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