Free Trial

EGB Supply For W/C May 16, 2022 (1/2): Recap

EUROZONE ISSUANCE

Spain and France are both still due to sell bonds today for an estimated E18.5bln. The ESM, Slovakia, Germany, Finland, Luxembourg, Spain and France have sold bonds this week for an estimated total gross nominal issuance this week of E32.0bln, up from the E29.2bln sold last week.

  • The ESM held a syndication on Monday to launch the new 5-year 1.00% Jun-27 bond. The transaction was sized at E2.0bln WNG and saw books in excess of E12.7bln.
  • Auctions for the week will kicked off on Monday with Slovakia selling E480mln of 3/10/15/25-year SlovGBs: E68mln of the 0.25% May-25 SlovGB (ISIN: SK4000017158), E138.7mln of the 1.00% May-32 SlovGB (ISIN: SK4000017166), E129mln of the 0.375% Apr-36 SlovGB (ISIN: SK4000018958) and E144mln of the 2.00% Oct-47 SlovGB (ISIN: SK4120013400). A further E23mln was sold in the non-competitive round.
  • On Tuesday, Germany sold E6bln of the new 0.20% Jun-24 Schatz (ISIN: DE0001104883) with only E4.115bln allotted in a very weak, technically uncovered auction.
  • Also Tuesday, Finland sold E996mln of the 20-year 0.50% Apr-43 RFGB (ISIN: FI4000517677).
  • On Wednesday, Germany returned to the market to sell E1.5bln of the 30-year 0% Aug-52 Bund (ISIN: DE0001102572), allotting E1.342bln in a very strong auction.
  • Also Wednesday, Luxembourg held a syndication launch of E1.25bln each of the 1.375% May-29 LGB and the 1.862% May-42 LGB.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.