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EGB issuance is nearly done for...>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: EGB issuance is nearly done for the week, with an Italian
sale on Thursday, and syndications underway for Finland and the ESM.
- ISSUANCE: Finland opened books Tuesday for E3bln of new 10-year benchmark
Sep-28 RFGB via syndication for E3.0bln (priced MS -28), with ESM syndicating
re-open of 1.85% Dec-55 bonds for E0.75bln (MS +16) and new 10-Yr benchmark bond
for E3.25bln (MS -11). On Thursday, Italy re-opens Oct-23 2.45% BTP for
E3.00-3.75bln, Dec-28 2.80% BTP for E1.75-2.25bln, and CCTeu Oct 24 and CCTeu
Sep-25 for a total of E1.25-1.75bln.
- RECAP: On Tuesday, Italy sold E1.75bln Mar-20 CTZ. On Wednesday Germany
reopened Oct-23 0.0% Bobl for E3.0bln. 
- CASH FLOWS: There are no redemptions this week, but there are E6.7bn in coupon
payments (by Italy). This will leave cash flow positive by around E7.7bln,
compared with flat last week (no issuance, minimal coupons/redemptions).
** For full detail please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: https://tinyurl.com/gkrtmav  and MNI Eurozone Issuance
Profile: https://tinyurl.com/y7qhuwh2

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