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EGB Supply

EUROZONE ISSUANCE

Germany, Spain and France all still look to hold auctions this week while the EU, the Netherlands and Germany have already held auctions. We pencil in gross nominal issuance of E32.7bln this week, down from last week’s E42.8bln.

  • Germany will kick off March issuance this morning with a 15-year Bund auction. On offer will be E1.5bln of the 1.00% May-38 Bund (ISIN: DE0001102598) and E1.0bln of the 4.25% Jul-39 Bund (ISIN: DE0001135325).
  • Tomorrow, Spain will look come to the market to sell E5-6bln of 3/6/10-year Bonos/Oblis and E250-750mln of a 10-year Obli-Ei: the 2.80% May-26 Bono (ISIN: ES0000012L29), the 0.80% Jul-29 Obli (ISIN: ES0000012K53), the 3.15% Apr-33 Obli (ISIN: ES0000012L52) and the 0.70% Nov-33 Obli-Ei (ISIN: ES0000012C12).
  • Later tomorrow, France will look to sell E10.5-12.0bln of LT OATs: the 2.00% Nov-32 OAT (ISIN: FR001400BKZ3), the 1.25% May-34 OAT (ISIN: FR0013313582), the 1.25% May-38 OAT (ISIN: FR0014009O62) and the 4.00% Apr-60 OAT (ISIN: FR0010870956).
For more on this week's issuance see the PDF here:

EZ230301.pdf

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