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EGB supply for W/C 10 Jan (2/2)

EUROZONE ISSUANCE
  • Germany will return to the market on Wednesday to sell E1.5bln of the 30-year 0% Aug-52 Bund.
  • On Thursday, Italy will look to sell 3/7/15+ BTPs with details to be announced on Monday. For the 3/7-year BTPs we expect reopenings of the 0% Dec-24 BTP and the 0.40% Feb-29 BTP.
  • There are no notable redemptions or coupon payments in the week ahead. This leaves estimated net nominal issuance at E15.7bln for the week (which will increase with syndications). This is up from the E6.4bln net nominal issuance seen this week.
For a calendar of all announced EGB/EU/ESM/EFSF auctions see the MNI EZ/UK Bond Supply Calendar here.

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