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Bills Supply For W/C Nov 2

EUROZONE T-BILL ISSUANCE
Germany, France, the Netherlands, Belgium, Greece and the ESM will issue bills in the W/C Nov 2. We estimate supply of E14.1bn compared to E15.6bn the previous week.
  • RECAP: Germany kicked off bill issuance for the week with an auction of May 5, 2021 bubills on Monday with E1.40bn allotted. The Netherlands sold E2.05bn of 3- and 9-month DTCs. France concluded Monday's issuance with an auction of 3-/6-/9-month BTFs for E6.69bn.
  • ISSUANCE: On Tuesday Belgium will sell Mar 11, 2021 and May 13, 2021 TCs for E1.0-1.4bn. The ESM will follow with a EUR2bn tap of 3-month bills. Greece will bookend the week with an auction of 3-month bills for E0.625bn.
  • CASH FLOWS: E17.7bn in redemptions will leave net cash flows at E-3.6bn for the week.
** For further details please see MNI Eurozone T-Bill Calendar

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