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EGB Supply

EUROZONE ISSUANCE

Germany and Italy are both still due to issue this week while Austria came to the market yesterday. We pencil in gross nominal issuance of E14.3bln, down from E34.5bln last week.

  • On Wednesday, Germany will come to the market to sell E4bln of the 10-year 2.60% Aug-33 Bund (ISIN: DE000BU2Z015).
  • Italy will look to conclude issuance for the week on Friday with a 3/7/15/30-year BTP auction. On offer will be E2.5-3.0bln of the 3-year on-the-run 3.85% Sep-26 BTP (ISIN: IT0005556011), E1.0-1.5bln of the off-the-run 7-year 3.50% Mar-30 BTP (ISIN: IT0005024234), E1.5-2.0bln of the 7-year on-the-run 4.00% Nov-30 BTP (ISIN: IT0005561888) and E0.75-1.0bln of the on-the-run 30-year 4.50% Oct-53 BTP (ISIN: IT0005534141).
For more on this week and next week's supply see the PDF here:

EZ231108.pdf

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