MNI BRIEF: China Q2 GDP Impacted By Bad Weather - NBS

MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1313 Mon; -1.35% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1313 MON VS 7.1315

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Asia Sovs Little Changed, Local FX Lower, ID Trade Surplus Narrows

Q2 GDP Below Expectations, Consumer Side Still Appears Soft

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB supply for W/C 21 June, 2021

EUROZONE ISSUANCE

Slovakia have already held an auction while the Netherlands, Germany and Italy are still due to hold auctions and Spain and Slovenia are set to hold syndications. We look for E21.4bln of gross nominal issuance this week, substantially down from E51.2bln last week.

  • Slovakia kicked off issuance for the week on Monday selling E561mln of SlovGBs (just over the E550mln target): E124mln of the 0% Jun-24 SlovGB, E78mln of the 1.00% Jun-28 SlovGB, E214.5mln of the 1.00% May-32 SlovGB and E144mln of the 2.00% Oct-47 SlovGB.
  • The Netherlands will come to the market this morning with E1-2bln of the 4.00% Jan-37 DSL on offer.
  • Spain issued a mandate yesterday for a new 10-year Obli maturing in Oct-31. We expect the transaction to take place today and look for a size of around E10bln.
  • Slovenia is also also likely to come to the market this week after holding an investor call yesterday ahead of an inaugural issue of a Sustainability bond. Depending on the maturity we look for a transaction of up to E1.5bln.
  • Tomorrow, Germany will reopen the 15-year 0% May-36 Bund for E2.5bln.
  • Italy will round off issuance for the week on Friday with BTP Short Term and BTPei on offer. Details will be announced later today.

NET NOMINAL FLOWS: There are no redemptions in the upcoming week with E4.0bln of coupons (of which E3.1bln are Belgian). With gross nominal issuance of E21.4bln, we look for net nominal flows of E17.4bln, down substantially from the E50.1bln last week. Issuance is set to pick up again in the W/C 28 June with the launch of the second NGEU bond (we see issuance for that week at north of E40bln).

For a full calendar of all scheduled supply operations see the MNI Eurozone/UK Bond Auction Calendar here.

Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.