© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
USD

Some downside continuation

OIL

Russian Crude to Asia Easing in June

BONDS

A busy early start

REFINING

OMV's Schwechat Refinery Out Till Q3

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
Trending Top 5
Topics

EGB Supply For W/C May 23, 2022

EUROZONE ISSUANCE
BulletMarketsFixed Incomemarkets-real-time

The EU, Belgium, the Netherlands, Germany and Italy are due to sell bonds this week. We look for estimated gross nominal issuance of E13.6bln, down from the E32.0bln sold last week.

  • The EU will kick off auctions for the week this morning with up to E2.5bln of the 10-year 1.00% Jul-32 EU NGEU on offer (ISIN: EU000A3K4DD8).
  • Also today, Belgium will look to sell a combined E2.8-3.8bln of 3/10/55-year OLOs: the 0.80% Jun-25 OLO (ISIN: BE0000334434), the 0.35% Jun-32 OLO (ISIN: BE0000354630) and the 2.15% Jun-66 OLO (ISIN: BE0000340498).
  • Tomorrow, the Netherlands will look to sell E1-2bln of the 30-year 0% Jan-52 DSL (ISIN: NL0015614579)
  • On Wednesday, Germany will look to sell E2bln of the 15-year 1.00% May-38 Bund (ISIN: DE0001102598).
  • Issuance for the week will conclude on Thursday with Italy due to sell BTP-ST and BTPei with details due later today. We expect to see the 0% Nov-23 BTP Short Term (ISIN: IT0005482309). We have less conviction on the BTPei with the most likely candidates being the 0.65% May-26 BTPei, the 0.10% May-33 BTPei or the 0.15% May-51 BTPei.

NET NOMINAL FLOWS: There will be E30.6bln of redemptions this week (E29.2bln of which are a French OAT with an original maturity of five years) and coupon payments of E10.2bln (of which E9.1bln are Spanish). This leaves estimated net flows for the week at negative E27.2bln (down from positive E16.8bln last week).

Keep reading...Show less
247 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.

The EU, Belgium, the Netherlands, Germany and Italy are due to sell bonds this week. We look for estimated gross nominal issuance of E13.6bln, down from the E32.0bln sold last week.

  • The EU will kick off auctions for the week this morning with up to E2.5bln of the 10-year 1.00% Jul-32 EU NGEU on offer (ISIN: EU000A3K4DD8).
  • Also today, Belgium will look to sell a combined E2.8-3.8bln of 3/10/55-year OLOs: the 0.80% Jun-25 OLO (ISIN: BE0000334434), the 0.35% Jun-32 OLO (ISIN: BE0000354630) and the 2.15% Jun-66 OLO (ISIN: BE0000340498).
  • Tomorrow, the Netherlands will look to sell E1-2bln of the 30-year 0% Jan-52 DSL (ISIN: NL0015614579)
  • On Wednesday, Germany will look to sell E2bln of the 15-year 1.00% May-38 Bund (ISIN: DE0001102598).
  • Issuance for the week will conclude on Thursday with Italy due to sell BTP-ST and BTPei with details due later today. We expect to see the 0% Nov-23 BTP Short Term (ISIN: IT0005482309). We have less conviction on the BTPei with the most likely candidates being the 0.65% May-26 BTPei, the 0.10% May-33 BTPei or the 0.15% May-51 BTPei.

NET NOMINAL FLOWS: There will be E30.6bln of redemptions this week (E29.2bln of which are a French OAT with an original maturity of five years) and coupon payments of E10.2bln (of which E9.1bln are Spanish). This leaves estimated net flows for the week at negative E27.2bln (down from positive E16.8bln last week).

Keep reading...Show less