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EGB supply for W/C Mar 15, 2021 (2/2)

EUROZONE ISSUANCE
  • Also Wednesday, Germany returned to the market, allotting E1.222bln the 0% Aug-50 Bund in a technically uncovered auction. The issue size was E1.5bln.
  • Spain On Thursday sold E6.171bln of 3/7/30-year Bonos/Oblis. It sold E3.047bln of the new 7-year Bono, the 0% Jan-28 Bono, E2.137bln of the 3-year 0% May-24 Bono and E0.987bln of the 30-year 1.00% Oct-50 Obli.
  • France returned to the market to sell E9.5bln of 3/5/7-year OATs: E4.994bln of the 0% Feb-24 OAT, E3.098bln of the 0% Feb-26 OAT and E1.405bln of the 0.75% May-28 OAT.
  • Rounding off the week, France sold E2.0bln nominal of linkers: 1.028bln of the 0.10% Mar-26 OATei, E360mln of the 0.10% Mar-28 OATi and E609mln of the 0.70% Jul-30 OATei.
Net nominal flows: The only redemption of the week was a E900mln ITALY FRN (originally issued 15-years ago). Coupon payments for the week total E2.4bln. With nominal gross issuance of E37.6bln this week, net nominal flows were E34.3bln (up from E15.0bln last week). This will be the highest week of net nominal flow since the last week of January.

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