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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE ISSUANCE
Germany, Spain and France are all still due to hold auctions this week (in addition to Slovakia, Germany and Finland who have already) while Greece held a syndication yesterday. We look for gross nominal issuance at first round operations of E30.0bln for these deals, down from E51.5bln last week.
- Germany will return to the market on Wednesday to hold the first of its dual-line 30-year Bund auctions. On offer will be E1.0bln of the 0% Aug-50 Bund (ISIN: DE0001102481) and E1.5bln of the 1.80% Aug-53 Bund (ISIN: DE0001102614).
- Spain will come to the market on Thursday with the following Oblis on offer: the 0% Jan-28 Obli (ISIN: ES0000012I08), the 0.50% Apr-30 Obli (ISIN: ES0000012F76) and the 4.90% Jul-40 Obli (ISIN: ES00000120N0). E4.5-5.5bln will be on offer.
- Also Thursday, France will look to sell E9-10bln of MT OATs. On offer will be last year’s 3-year 0% Feb-25 OAT (ISIN: FR0014007TY9), the 5-year 0.75% Feb-28 OAT (ISIN: FR001400AIN5) and the off-the-run 0.50% May-29 OAT (ISIN: FR0013407236).
- France will then conclude issuance for the week with its linker auction with a combined E1.25-1.75bln on offer of the 0.10% Mar-29 OATei (ISIN: FR0013410552), the 0.10% Jul-36 OATei (ISIN: FR0013327491) and the 0.10% Mar-32 OATi (ISIN: FR0014003N51).
For more on this week's issuance see the PDF here:
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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