Free Trial

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

EUROZONE ISSUANCE
  • Spain came to the market yesterday to sell E5.477bln of Bonos, Oblis and Green Oblis, the middle of the E5-6bln target range: E1.352bln of the 0% May-25 Bono (ISIN: ES0000012K38), E1.117bln of the 0.80% Jul-27 Obli (ISIN: ES0000012G26), E1.988bln of the 0.70% Apr-32 Obli (ISIN: ES0000012K20) and E1.020bln of the 1.00% Jul-42 Green Obli (ISIN: ES0000012J07).
  • France then sold E11.497bln of the MT OATs, the top of the target range (including the launch of the new long 5-year OAT): E3.445bln of the 0% Feb-25 OAT (ISIN: FR0014007TY9), E3.435bln of the 0% Feb-26 OAT (ISIN: FR0013508470) and E4.617bln of the new 0.75% Feb-28 OAT (ISIN: TBA).
  • France will returned later yesterday to sell E1.497bln of IL OATs: E738mln of the 0.10% Jul-31 OATei (ISIN: FR0014001N38), E527mln of the 0.10% Mar-32 OATi (ISIN: FR0014003N51) and E232mln of the 0.10% Mar-36 OATi (ISIN: FR0013524014).

NET NOMINAL FLOWS: There will be E11.9bln of redemptions this week (E11.5bln of which are Italian BTPei with an original maturity of six years) and coupon payments of E3.3bln (of which E1.7bln are Italian and E0.9bln Dutch). This leaves estimated net flows for the week at positive E16.9bln (down from positive E29.1bln last week).

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

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.