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EGB Supply for W/C Jul 19

EUROZONE ISSUANCE

Germany was the only country to issue bonds and issued E5.5bln. This sees a sharp drop from last week's E56.8bln of gross nominal issuance of EGB/EU bonds as we enter the summer season.

  • Germany held a strong 7-year 0% Nov-28 Bund auction on Tuesday. E3.349bln was allotted with issuance volumes of E4.0bln.
  • Germany returned to the market on Wednesday to sell E1.5bln of the 30-year 1.25% Aug-48 Bund.

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

For a full calendar of all scheduled supply operations see the MNI Eurozone/UK Bond Auction Calendar here.

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