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Bill Supply For W/C Nov 29, 2021

EUROZONE T-BILL ISSUANCE

Germany, France, Greece and the EU have issued bills for E15.1bln this week at first round operations, slightly lower than the E14.9bln seen last week.

  • Germany kicked off issuance Monday morning allotting E2.730bln of the 6-month Jun 22, 2022 bubill and E2.402bln of the 9-month Sep 21, 2022 bubill. Issuance volumes for both bubills were E3bln.
  • Monday afternoon saw France sell E5.437bln of 13/22/48-week BTFs: E2.795bln of the new 13-week Mar 2, 2022 BTF, E1.445bln of the 22-week May 4, 2022 BTF and E1.197bln of the 48-week Nov 2, 2022 BTF.
  • Greece came to the market Wednesday morning to sell E625mln of the new 26-week Jun 3, 2022 GTB.
  • The EU then concluded bill issuance for the week, also Wednesday, selling E1.495bln of the 3-month Mar 4, 2022 EU-bill and E1.496bln of the new 6-month Jun 3, 2022 EU-bill. Note that this was the first time a 3-month bill was issued that was previously sold as a 6-month issue. This was also the EU's last bill auction of 2021.

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