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Bill Supply for W/C Jan 3, 2022: Upcoming

EUROZONE T-BILL ISSUANCE

Greece, Belgium, the ESM and the EU all still due to issue this week. We estimate a further E7.3bln of issuance this week, which would bring E17.4bln of issuance (up from E15.9bln raised in first round operations in the first week of 2021).

  • This morning, Greece will look to sell E625mln of the new 13-week Apr 8, 2022 GTB.
  • Also this morning, Belgium looks to sell E1.8-2.2bln of the May 12, 2022 TC and the Nov 10, 2022 TC. An indicative amount of E1bln of each on offer.
  • Today will also see the ESM sell E1.5bln of the new 3-month Apr 7, 2022 bills
  • The EU will look to conclude bill issuance for the week tomorrow selling up to E1.5bln each of the 3-month Apr 8, 2022 EU-bill and the new 6-month Jul 8, 2022 EU-bill.

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