Free Trial
CANADA

Analyst BoC Views Post Labour Report

CORN TECHS

(Z2) Bearish Outlook

EURIBOR

Put fly buyer

OIL PRODUCTS

Crack Spreads Showing Small Recovery

PIPELINE

Mexico 2033 Bond

EQUITY TECHS

E-MINI S&P (U2): Northbound

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

EGB Supply For W/C July 4, 2022

EUROZONE ISSUANCE

Austria, Germany, Spain and France are due to sell bonds this week. We look for estimated gross nominal issuance of E23.6bln, up from the E16.3bln sold last week.

  • Austria will kick off issuance for the week this morning with a combined E1.495bln of the 0% Oct-28 RAGB (ISIN: AT0000A2VB47) and 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8) on offer.
  • Germany will also come to the market today to reopen E500mln of the 0.10% Apr-33 ILB (ISIN: DE0001030583).
  • Tomorrow, Germany will look to issue E5bln of the new 1.70% Aug-32 Bund (ISIN: DE0001102606).
  • Spain will come to the market on Thursday, with E4-5bln of 4/10/30-year Oblis as well as an 8-year Obli-Ei on offer: the off-the-run 5.90% Jul-26 Obli (ISIN: ES00000123C7), the 1.00% Nov-30 Obli-Ei (ISIN: ES00000127C8), the 2.55% Oct-32 Obli (ISIN: ES0000012K61) and the 1.90% Oct-52 Obli (ISIN: ES0000012K46).
  • France will then conclude issuance for the week on Thursday, looking to sell E11-12bln of long-term / Green OATs including launching a new 10-year 2.00% Nov-32 OAT (ISIN: FR001400BKZ3). Also on offer: the 0.50% Jun-44 Green OAT (ISIN: FR0014002JM6), the 2.00% May-48 OAT (ISIN: FR0013257524) and the 0.75% May-53 OAT (ISIN: FR0014004J31).

NET NOMINAL FLOWS: There is a formerly 10-year Bund due to mature this week for a total of E26.5bln with a further E6.8bln of coupon payments due (of which E6.3bln are German). Together with estimated gross nominal issuance of E23.6bln, this leaves estimated net flows for the week at negative E9.8bln (down from last week’s positive E15.1bln).

Keep reading...Show less
260 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Austria, Germany, Spain and France are due to sell bonds this week. We look for estimated gross nominal issuance of E23.6bln, up from the E16.3bln sold last week.

  • Austria will kick off issuance for the week this morning with a combined E1.495bln of the 0% Oct-28 RAGB (ISIN: AT0000A2VB47) and 0.90% Feb-32 RAGB (ISIN: AT0000A2WSC8) on offer.
  • Germany will also come to the market today to reopen E500mln of the 0.10% Apr-33 ILB (ISIN: DE0001030583).
  • Tomorrow, Germany will look to issue E5bln of the new 1.70% Aug-32 Bund (ISIN: DE0001102606).
  • Spain will come to the market on Thursday, with E4-5bln of 4/10/30-year Oblis as well as an 8-year Obli-Ei on offer: the off-the-run 5.90% Jul-26 Obli (ISIN: ES00000123C7), the 1.00% Nov-30 Obli-Ei (ISIN: ES00000127C8), the 2.55% Oct-32 Obli (ISIN: ES0000012K61) and the 1.90% Oct-52 Obli (ISIN: ES0000012K46).
  • France will then conclude issuance for the week on Thursday, looking to sell E11-12bln of long-term / Green OATs including launching a new 10-year 2.00% Nov-32 OAT (ISIN: FR001400BKZ3). Also on offer: the 0.50% Jun-44 Green OAT (ISIN: FR0014002JM6), the 2.00% May-48 OAT (ISIN: FR0013257524) and the 0.75% May-53 OAT (ISIN: FR0014004J31).

NET NOMINAL FLOWS: There is a formerly 10-year Bund due to mature this week for a total of E26.5bln with a further E6.8bln of coupon payments due (of which E6.3bln are German). Together with estimated gross nominal issuance of E23.6bln, this leaves estimated net flows for the week at negative E9.8bln (down from last week’s positive E15.1bln).

Keep reading...Show less