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EGB Supply For W/C Feb 14 (2/2)

EUROZONE ISSUANCE
MNI (London)
  • Yesterday Spain sold E4.5bln (versus a E4-5bln target range) of the on-the-run 5-year Bono and 10-year Obli: E2.341bln of the 0% Jan-27 Bono and E2.139bln of the 0.70% Apr-32 Obli.
  • Also on Thursday, France came to the market and sold a total E11.0bln (the top of the target range) of 3/5/7-year OATs; E4.0bln of the 0% Feb-25 OAT, E4.5bln of the 0% Feb-27 OAT and E2.5bln of the 0.75% May-28 OAT.
  • France reopened a further E1.5bln (versus the E1.0-1.5bln target range) of linkers on Thursday, issuing E729mln the 0.10% Jul-31 OATei, E499mln of the 0.10% Mar-32 OATi and E270mln of the 0.10% Mar-36 OATi.

NET NOMINAL FLOWS: This week saw no redemptions and coupons of E3.0bln. Gross nominal issuance was E38.8bln and net flows for the week were positive E35.5bln (from E25.4bln last week).

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

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