Free Trial

EGB supply for W/C 7 June, 2021 (2/2)

EUROZONE ISSUANCE
  • Tomorrow, Germany will return to the market with E1.5bln of the 30-year 0% Aug 50 Bund on offer.
  • Portugal will then look to sell E750mln-1.0bln of 7/10-year OTs: the 0.70% Oct-27 OT and the 10-year 0.30% Oct—41 OT.
  • Italy looks to return to the market Thursday to sell 3/7/20-year BTPs: E3.0-3.5bln of the 0% Apr-24 BTP, E2.0-2.5bln of the 0.50% Jul-28 BTP and E1.25-1.75bln of the 1.80% Mar-41 BTP.
  • Ireland is also scheduled to hold a bond auction Thursday with details due today after yesterday's Irish holiday.

NET NOMINAL FLOWS: There are a number of redemptions in this week totalling E21.2bln, the most noteworthy of which are a E5bln EFSF bond that matured on 7 June (originally issued as a 7-year) and a E14.0bln Schatz maturing on 11 June. Coupons are only E0.1bln, leaving net nominal issuance expected to come in at E10.7bln. This is larger than last week's E2.7bln but a lot lower than the E41.2bln net nominal issuance expected in the W/C 14 June.

For a longer-term look ahead, see the MNI EZ/UK Bond Auction calendar.

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.