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Bill Supply For W/C Oct 25, 2021

EUROZONE T-BILL ISSUANCE

Germany, France and Italy are the only countries due to sell bills next week. We look for E16.6bln of issuance for the week, down from E24.6bln from first round operations this week.

  • Germany will kick off issuance on Monday morning with E4bln of the new 12-month Oct 19, 2022 bubill on offer.
  • Monday afternoon, France will look to sell up to E5.6bln of BTFs: E2.6-3.0bln of the 12-week Jan 19, 2022 BTF, E1.6-2.0bln of the new 23-week Apr 6, 2022 BTF and E1.2-1.6bln of the 49-week Oct 5, 2022 BTF.
  • On Wednesday, Italy will look to sell E6bln of the new 6-month Apr 22, 2022 BOTs.

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