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JGBS

No Reaction To Mediocre Auction

JGBS AUCTION

Japanese MOF sells Y2.0991tn 10-Year JGBs:

US TSY FUTURES

TYU1 Blocked

ASIA FX

IDR Posts Gains For Fifth Session

GOLD

Consolidating

INDIA

RBI Looms Large

EUROZONE ISSUANCE
Germany, France and Spain will issue EGBs in the week commencing August 31. We estimate supply of E20.5bn compared to E29.0bn last week.
  • ISSUANCE: Germany is scheduled to hold two auctions (and potentially a syndication), with the first taking place on Tuesday when the 0.10% Apr-26 iBund and 0.10% Apr-46 iBund will be offered for E0.25bn each. The Deutsche Finanzagentur returns on Wednesday to sell E4bn of the 0% Oct-25 Bobl. Spain will re-open the 0% Jan-35 Bono, 1.40% Apr-28 Obli, 1.85% Jul-35 Obli and the 0.70% Nov-33 Obli-Ei on Thursday with issue volumes TBA. France will conclude issuance for the week with the 0% Nov-30 OAT, 1.25% May-36 OAT, 0.75% May-52 OAT and 4.00% Apr-60 OAT on offer for E9.5-11.0bn.
  • CASH FLOWS: E40.5bn in redemptions and E10.5bn in coupon payments will leave net cash flows at E-30.5bn for the week.
  • For further details please MNI Eurozone Issuance Profile & Cash Flow Matrix: https://emedia.marketnews.com/cfm310820fdss.pdf