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EGB sales are concluded for the...>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: EGB sales are concluded for the week, totalling E9.8bln
versus E17.8bln last week.
- ISSUANCE: Italy on Wednesday sold three BTPs for a combined total of E7.75bln.
This included E4.00bln of 1.00% Jul-22 BTP, E2.50bln of 2.50% Nov-25 BTP, and
E1.25bln of 2.95% Sep-38 BTP. Also Wednesday, Germany allotted E0.833bln 1.25%
Aug-48 Buxl. Later Wednesday, Portugal concluded EGB issuance for the week,
selling a combined E1.25bln in PGBs including E0.388bln of 2.875% Jul-26 PGB and
E0.862bln of 1.95% Jun-29 PGB.
- CASH FLOW: With E5.4bln in coupons (Italy E3bln, Austria E1.5bln, Ireland
E0.7bln) and E24.4bln in redemptions (E13 bln German Schatz, E11.3bln Austria)
returning to market this week, cash flow will come in at negative E20.0bln,
versus negative E17.7bln last week.
** For full details, please see MNI Eurozone bond auction calendar
* Cash Flow Matrix: https://emedia.marketnews.com/CFM110319.pdf

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