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EGB Supply For Oct W/C Oct 25, 2021 (2/2)

EUROZONE ISSUANCE
  • Also Wednesday, Portugal held a debt exchange for a total E947mln, buying E205mln of 4.95% Oct-23 OT and E742mln of 5.65% Feb-24 OT, selling E681mln of 0.30% Oct-31 OT and E266mln of 4.1% Apr-52 OT.
  • On Thursday, Italy concluded issuance for the week, selling E2bln of 0% Aug-26 BTP, E3.75bln of 0.95% Jun-32 BTP, and E1.25bln of 0.65% Apr-29 CCTeu.

NET NOMINAL FLOWS: There was a E37.0bln French redemption due of a former 10-year OAT while French coupons accounted for most of the E11.0bln of coupon payments. With E20.9bln of gross nominal issuance, net nominal flows for the week were negative E27.0bln, more than reversing the prior week's positive E22.5bln flow.

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