Free Trial

EGB issuance is set to slow.......>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: EGB issuance is set to slow slightly next week to E12.2bln
from E16.6bln this week, with Germany, Italy, the Netherlands and Portugal set
to come to market.
- ISSUANCE: On Tuesday, the Netherlands kicks off issuance by re-opening 3.75%
Jan-42 for between E0.5-1.0bln. Also Tuesday, Italy re-opens 2.30% Oct-21 BTP
for between E2.0-2.5bln, re-opens 2.50% Nov-25 BTP for between E1.25-1.75bln,
and re-opens 2.95% Sep-38 BTP for between E0.75-1.25bln. Tuesday also sees
Germany sell new 0.00% Dec-20 Schatz for E4.0bln. Germany then follows up
Wednesday by re-opening 1.25% Aug-48 Buxl for 1.5bln. Also Wednesday, Portugal
re-opens 4.95% Oct-23 PGB and 2.125% Oct-28 PGB for a combined E1.0-1.25bln.
- CASH FLOWS: With minimal cash flow returning to market (E0.3bln in
redemptions, E0.4bln in coupons), cash flow next week will come in at positive
E11.5bln, vs E16.5bln this week.
** For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: https://tinyurl.com/MNIcashflownov122018 and MNI Eurozone
Issuance Profile: https://tinyurl.com/MNIissuancenov122018

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.