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EGB Supply

EUROZONE ISSUANCE

The Netherlands, Germany, France and Belgium are all still due to issue this week while Italy and the EU held auctions yesterday. The syndication schedule may slow down again given the Mayday / bank holiday across much of Europe. We pencil in estimated gross issuance for the week at E32.6bln.

  • The Netherlands will hold an auction this morning with E2.0-2.5bln of the 2.50% Jul-34 DSL (ISIN: NL0015001XZ6) on offer.
  • Germany will also come to the market this morning to launch the new 2.10% Apr-29 Green Bobl (ISIN: DE000BU35025) for E3bln.
    • Note that there will also be an increase in "own quota" purposes of the conventional 2.10% Apr-29 Bobl (with effect from 3 May - the same settlement date as the auction).
For more on this week's issuance and a look ahead to next week's supply see the PDF here:

EZ240430.pdf

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