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Bill Supply For Oct 5-7, 2021

EUROZONE T-BILL ISSUANCE

We look for Spain, Belgium, the ESM, the EU and Greece to sell a further E13.2bln of bills this week in first round operations. This would leave the weekly total at E29.9bln, up markedly from last week's E10.7bln

  • Spain will kick off this morning's issuance with E4.5-5.5bln combined of the 6-month Apr 8, 2022 letras and new 12-month Oct 7, 2022 letras on offer.
  • Belgium will then look to sell E0.6-1.0bln of the 3-month Jan 13, 2022 TC.
  • The ESM will come to the market to sell E1.5bln of the new 3-month Jan 6, 2022 bill.
  • The EU will come to the market tomorrow to sell up to E3bln of the new 3-month Jan 7, 2022 EU-bill and up to E2bln of the new 6-month Apr 8, 2022 EU-bill.
  • Greece will round off issuance for the week on Thursday with E625mln of the new 13-week Jan 7, 2022 GTB on offer.

For more on future auctions see the MNI Eurozone/UK T-bill auction calendar.

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