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EGB supply for W/C May 10, 2021 (2/2)

EUROZONE ISSUANCE
  • On Thursday, Italy sold E9.25bln of BTPs. Most notable was the launch of the new 7-year BTP, the 0.50% Jul-28 for E4.5bln. Also sold was the 3-year 0% Apr-24 BTP for E3.0bln and the 30-year 1.70% Sep-51 BTP for E1.75bln.
  • Concluding issuance for the week, Ireland sold E1.5bln IGBs, the upper end of its target range: E800mln of the 0% Oct-31 IGB, E400mln of the 1.30% May-33 IGB and E300mln of the 1.50% May-50 IGB.

NET NOMINAL FLOWS: There were no redemptions this week and coupon payments were only E0.1bln. With gross nominal issuance of E20.4bln, net nominal flows were E20.3bln this week. This is up on the E2.4bln last week while the prior week saw a negative flow of E44.8bln.

For a calendar of all announced EGB/EU/ESM/EFSF auctions see the MNI EZ/UK Bond Supply Calendar here.

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