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EGB Supply

EUROZONE ISSUANCE

Germany and Greece both still look to issue this week while Slovakia and Belgium came to the market yesterday. We pencil in gross nominal issuance of E12.3bln for the week, notably down from last week’s E48.5bln.

  • This morning, Germany will look to sell E5.5bln of the 2.80% Jun-25 Schatz (ISIN: DE000BU22015).
  • Tomorrow, Greece will hold a GGB auction, with the bonds on offer to be confirmed later today.
  • Also tomorrow, Germany will return to the market to sell E1.0bln of the 0% Aug-50 Bund (ISIN: DE0001102481) and E1.5bln of the 0% Aug-52 Bund (ISIN: DE0001102572).
  • In addition to these auctions, this week we are likely to receive H2 funding plans from the EU and Q3 funding plans from Germany and the Netherlands.
For more on this week's issuance and a look ahead to next week's supply see the PDF here:

EZ230620.pdf

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