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Bill Supply For W/C Nov 30

EUROZONE T-BILL ISSUANCE
Germany, France, Spain, Greece and the ESM will issue T-bills in the W/C Nov 30. We estimate supply of E14.6bn compared to E15.6bn the previous week.
  • ISSUANCE: Germany will kick off issuance for the week with an auction of Nov 24, 2021 bubills for E2bn on Monday. France will then sell a combination of 3-/6-/12-/month BTFs for E5.8-7.0bn. Spain will come to market on Tuesday to sell 6 and 12-month letras with issues volumes TBA. The ESM will then offer E16bn of 3-month bills. On Wednesday Greece will sell E0.625bn of 6-month bills. Belgium has cancelled a TC auction scheduled for December 1.
  • CASH FLOWS: E28.3bn in redemptions will leave net cash flows at E-13.7bn for the year.
** For further details please see MNI Eurozone T-Bill Calendar

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