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EGB Supply for W/C Jul 19


We upcoming week sees Germany as the only country to issue bonds with E5.5bln on offer. This sees a sharp drop from this week's E56.8bln of gross nominal issuance as we enter the summer season.

  • Germany will look to sell E4bln of the 7-year 0% Nov-28 Bund on Tuesday.
  • Germany will then return to the market Wednesday to sell E1.5bln of the 30-year 1.25% Aug-48 Bund.

NET NOMINAL FLOWS: There are no redemptions next week and just E0.5bln of coupon payments. This leaves net nominal issuance estimated at E5.0bln for the week, versus this week's E36.2bln.

For a recap of last week's issuance alongside graphical representations of issuance in the upcoming weeks and detailed tables of coupon and redemption schedules for the year ahead see the full document here.

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