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EGB supply for W/C Apr 19, 2021 (1/2)

EUROZONE ISSUANCE

Slovakia, Germany, Finland, Spain and France are all due to hold auctions this week. We look for nominal gross issuance of E28.6bln in first round operations, down from last week's E37.4bln (E38.9bln including second rounds this week). In addition, Italy will launch a new 16-year BTP Futura to retail clients only (so we do not include that in our total).

  • Slovakia will kick off issuance today with E411mln of SlovGBs on offer: E100mln of the 0% Jun-24 SlovGB, E61.4mln of the 3.625% Jan-29 SlovGB, E150mln of the 1.00% Oct-30 SlovGB and E100mln of the 2.00% Oct-47 SlovGB.
  • Tomorrow, Germany will look to sell E5bln of the 0% Mar-23 Schatz.
  • Also tomorrow, Finland looks to sell E1.0bln of the 20-year 0.25% Sep-40 RFGB.
  • On Wednesday, Germany will return to the market to sell E4bln of the 0% Feb-31 Bund.

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