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EGB Supply For W/C Aug 8, 2022

EUROZONE ISSUANCE

Austria and Germany are the only countries to sell bonds this week. Gross nominal issuance was E8.7bln, down from last week’s E13.9bln sold.

  • Austria kicked off issuance for the week on Tuesday selling a combined E1.150bln of 10/22-year RAGBs: E690mln (E600mln allotted) of the 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8) and E460mln (E400mln allotted) of the 3.15% Jun-44 RAGB (ISIN: AT0000A0VRQ6).
  • Also Tuesday, Germany sold E6bln (E4.61bln allotted) of the new 0.40% Sep-24 Schatz (ISIN: DE0001104891).
  • Germany returned to the market on Wednesday to sell E1.5bln (E1.165bln allotted) of the 1.25% Aug-48 Bund (ISIN: DE0001102432).

NET NOMINAL FLOWS: There are no redemptions and only negligible coupons due this week. With estimated gross issuance of E8.7bln, MNI estimates net nominal issuance of positive E8.6bln this week, versus last week’s negative E21.3bln.

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

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