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EGB Supply

EUROZONE ISSUANCE

Italy is due to an hold auction today. Slovakia, Belgium, Finland, Greece, Germany, Spain, France and Ireland have already held auctions this week while the EU and Italy have held syndications. We pencil in estimated gross issuance for the week at E45.2bln, up from E23.1bln last week.

  • Italy will come to the market this morning to conclude issuance for the week with E2.50-2.75bln of the 3.20% Jan-26 BTP Short Term (ISIN: IT0005584302) on offer. This is the on-the-run BTP Short Term which was launched in February. Originally, a BTPei auction had also been scheduled but following the launch of the 1.80% May-36 BTPei via syndication on Tuesday this part of the auction has been cancelled.
  • The Netherlands will publish its Q2 outlook and calendar today at 12:00GMT / 11:00CET.
For more on this week's issuance and a look ahead to next week's supply see the PDF here:

EZ240322.pdf


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