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Earlier today Austria released....>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Earlier today Austria released an updated Bond funding
programme for 2017 that was ~E4bln higher than previous communicated and is now
E24-26bln.
- Previously, the Austrian Treasury had spoken of one or two syndicated issues
in 2017. In the updated presentation, they now reference a second syndication
more clearly.
- In April, Austria sold a new 10Y via syndication. A 0% Jul-23 might inhibit a
new 5Y syndicated deal and the smallish Feb-47 might rule out a new 30Y. Thus, a
7Y or 15/20Y provides a possibility. 

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