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EGB Supply For W/C Oct 11, 2021 (2/2)

EUROZONE ISSUANCE
  • Italy will come to the market on Wednesday with benchmark 3/7/30-year BTPs on offer: the 0% Aug-24 BTP, the 0.50% Jul-28 BTP and the 1.70% Sep-51 BTP.
  • Germany will return to the market on Wednesday with E1bln of the 30-year 0% Aug-52 Bund on offer.
  • Ireland will round off EGB issuance for the week on Thursday with details of the auction to be announced Monday morning.

NET NOMINAL FLOWS: There will again be a single redemption this week, E13.9bln of the Italian 2.30% Oct-21 BTP which was originally launched as a 3-year BTP. Coupon payments of E1.2bln are due. This leaves our estimate of net nominal flows for the week at E10.4bln, up from E3.9bln last week.

For a recap of last week's issuance alongside graphical representations of issuance in the upcoming weeks and detailed tables of coupon and redemption schedules for the year ahead see the full document.

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