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Bill Supply For W/C Sep 13, 2021: Upcoming

Spain, Finland, the ESM, the EU and Ireland are all still due to sell T-bills this week and we look for an additional E10.2bln of issuance. We estimate E20.9bln of bill supply for the week in total from first round operations, down from E32.0bln last week.
  • This morning, Spain will look to sell E1-2bln combined of 3-month Dec 10, 2021 letras and 9-month Jun 10, 2022 letras.
  • Finland will look to sell E750mln of the 8-month May 12, 2022 RFTB and E750mln of the new 11-month Aug 12, 2022 RFTB.
  • The ESM will conclude today's issuance with plans to sell E1.1bln of new 12-month Sep 15, 2022 bills.
  • Tomorrow, the EU will hold its inaugural T-bill auction with up to E3bln of the 3-month Dec 3, 2021 bill and up to E2bln of the 6-month Mar 4, 2022 bill on offer.
  • Portugal's planned bill 6/12-month BT auction scheduled for tomorrow has been cancelled.
  • Ireland is scheduled to draw the week's issuance to a close on Thursday with a E750mln auction of the 5-month Feb 21, 2022 ITB.

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