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EGB Supply for W/C Mar 8: Recap (2/2)

EUROZONE ISSUANCE
  • Ireland sold E1.5bln of 10/30-year IGBs on Thursday: E1.05bln of the 0% Oct-31 IGB and E450mln of the 1.50% May-50 IGB
  • Italy concluded issuance for the week on Thursday, selling E8bln of BTPs: E5bln of the new 3-year 0% Apr-24 BTP and E3bln of the 7-year 0.25% Mar-28 BTP.
Net Flows: There are E14.3bln of redemptions due this week, E13.0bln of which will be Schatz tomorrow (so will settle the next week). Coupon payments are minimal at E0.3bln. With the E29.5bln of nominal gross issuance for the week, we estimate net nominal flows of E16.2bln, almost a mirror image of last week's E-16.4bln flows.

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