MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EGB Supply For W/C Aug 22, 2022

EUROZONE ISSUANCE
MNI (London)

Italy remains due to sell bonds this week while the EFSF, Belgium, Finland and Germany have already sold bonds. We look for estimated gross nominal issuance of E17.0bln, up from last week’s E11.0bln sold.

  • The EFSF held a dual-tranche syndicated transaction on Monday. It launched a new long 3-year 1.50% Dec-25 bond for E4.0bln and tapped the 10-year 2.375% Jun-32 bond for E1.5bln.
  • Belgium then kicked off auction issuance for the week, selling a combined E2.0bln of 5/10-year OLOs: E780mln of the 0% Oct-27 OLO (ISIN: BE0000351602) and E1.221bln of the 0.35% Jun-32 OLO (ISIN: BE0000354630).
  • Finland held a syndication on Tuesday to launch a new 5-year 1.375% Apr-27 RFGB for E3bln, with books in excess of E10bln.
  • Yesterday, Germany sold E4bln (E3.320bln allotted) of the 10-year 1.70% Aug-32 Bund (ISIN: DE0001102606).
  • Italy will conclude issuance today with the 1.75% May-24 BTP Short Term (ISIN: IT0005499311) on offer for E2.0-2.5bln. The BTPei auction originally scheduled simultaneously has been cancelled.

NET NOMINAL FLOWS: The only redemption of the upcoming week is an Austrian EMTN for E1.25bln due while EGB coupon payments are negligible. With estimated gross issuance of E17.0bln, MNI estimates net nominal issuance of positive E15.7bln this week, up from last week’s positive E8.5bln.

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
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.