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

EUROZONE ISSUANCE
  • We also look out for other potential syndications either this week or next week from Belgium, Ireland, France, Greece and Portugal.
  • Germany will return to the market tomorrow to sell E1.5bln of the 30-year 0% Aug-52 Bund.
  • On Thursday, Italy will look to reopen the 3/7-year BTPs for E3.0-3.5bln each. On offer will be the 0% Dec-24 BTP and the 0.40% Feb-29 BTP. The 15+ year BTP auction has been cancelled in light of last week's syndication.

There are no notable redemptions or coupon payments in the week ahead. This leaves estimated net nominal issuance at E31.2bln for the week (with potential for higher if there are more syndications). This is up from the E6.4bln net nominal issuance seen last 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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