Free Trial

EGB Supply For W/C June 13, 2022 (1/2)

EUROZONE ISSUANCE

The Netherlands, the EFSF, Italy, Germany, Finland, Spain and France have sold bonds this week. We look for total estimated gross nominal issuance of E37.9bln, up from the E14.9bln sold last week. Italy also bought back E3.0bln of BTPs.

  • The EFSF held a syndication on Tuesday to launch the new 10-year 2.375% Jun-32 bond with a transaction size of E2bln.
  • The Netherlands held a DDA for E4.982bln (top of the target range) of the 0.50% Jan-40 Green DSL (ISIN: NL0013552060).
  • Also Tuesday, Italy sold E6.0bln of 3/7/27/30-year BTPs (top of the target range): E2.0bln of the 3-year on-the-run 1.20% Aug-25 BTP (ISIN: IT0005493298), E2.5bln of the 7-year on-the-run 2.80% Jun-29 BTP (ISIN: IT0005495731), E748mln of the 27-year off-the-run 3.85% Sep-49 BTP (ISIN: IT0005363111) and E752mln of the 30-year on-the-run 2.15% Sep-52 BTP (ISIN: IT0005480980). The full amount was taken up in the second round (E1.2bln in total across the issues).
  • Finally Tuesday, Germany sold E5.5bln (E4.518bln allotted) of the 0.20% Jun-24 Schatz (ISIN: DE0001104883).
  • On Wednesday, Finland sold E666mln of the 20-year 0.50% Apr-43 RFGB, against a target of up to E1.0bln.

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.