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Bill Supply For W/C Nov 9

EUROZONE T-BILL ISSUANCE
France, Italy, Spain, Belgium, Finland and the ESM will issue bills in the W/C November 9. We estimate supply of E21.5bn (from an initial estimate of E24.1bn) compared to E14.3bn the previous week.
  • RECAP: France sold E7.49bn of 3-/6-/12-month BTFs on Monday. On Tuesday Spain sold E2.45bn of 6- and 12-month letras. Belgium sold E2.62bn of the Mar 11, 2021 and Nov 11, 2021 TCs. Finland sold E1.986bn of 6- and 9-month bills. The ESM concluded Tuesday's issuance with a E1.49bn allotment of 12-month bills.
  • ISSUANCE: Italy will conclude issuance for the week with an auction of 12-month BOTs for E5.5bn on Wednesday.
  • CASH FLOWS: E29.1bn in redemptions will leave net cash flows at E-7.6bn for the week.
** For further details please see MNI Eurozone T-Bill Calendar.

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