MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

MNI: US March Existing Home Sales Fell 4.3% To 4.19M

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

US EIA:NAT GAS STORAGE +50 BCF TO 2,333 BCF APR 12 WK

MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB Supply for W/C Aug 2

EUROZONE ISSUANCE

Spain, France and Belgium are all still due to issue EGBs this week, while Austria and Germany have already held auctions. We estimate total gross nominal issuance of E18.5bln for the week, slightly lower than last week's E19.9bln.

  • Austria kicked off issuance for the week on Tuesday selling 4/10-year RAGBs. It allotted E700mln of the 0% Apr-25 (issuance volume E805mln) and the E600mln of the 0% Feb-31 (issuance volume E690mln).
  • Germany allotted E3.273bln of the 0% Oct-26 Bobl yesterday with issuance volumes of E4.0bln.
  • Spain will come to the market this morning to sell E4-5bln of benchmark 3/5/10-year nominals and E250-750mln of the 10-year linker: the 0% May-24 Bono, the 0% Jan-26 Bono, the 0.50% Oct-31 Obli and the 1.00% Nov-30 Obli-Ei.
  • France will look to sell E6.5-7.5bln of LT OATs, also this morning. On offer will be the 1.50% May-31 OAT, the 5.75% Oct-32 OAT and the 1.25% May-34 OAT.
  • Belgium will conclude issuance for the week tomorrow through the ORI facility with details to be announced this afternoon.

NET NOMINAL FLOWS: There was one redemption, a BTP with E22.6bln outstanding (originally issued as a 15-year) with E4.9bln of coupons (of which E4.7bln are from Italy). With gross nominal issuance of E18.5bln this would leave net nominal flows at minus E9.0bln for the week, a smaller net contraction in supply than last week's E18.7bln.

For a calendar of all announced EGB/EU/ESM/EFSF auctions see the MNI EZ/UK Bond Supply 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.