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EGB Supply For W/C May 9, 2022 (2/2) - Recap

EUROZONE ISSUANCE
markets-real-timeBulletMarketsFixed Income
  • Germany returned to the market on Wednesday allotting E3.23bln of the 10-year 0% Feb-32 Bund (ISIN: DE0001102580) with issuance volumes of E4.0bln.
  • Portugal also held an OT auction on Wednesday, selling E750mln of the 0.475% Oct-30 OT (ISIN: PTOTELOE0028), the top of the target range.
  • Yesterday,Italy sold E6.75bln of 3/7/25-year BTPs: E2.0bln of the 1.20% Aug-25 BTP (ISIN: IT0005493298), E3.75bln of the new 7-year BTP (ISIN:IT0005495731) and E1.0bln of the 3.45% Mar-48 BTP (ISIN: IT0005273013).
  • Ireland also came to the market on Thursday morning, concluding Eurozone issuance for the week. A combined E1.25bln was sold (top of the target range): E400mln of the 0.35% Oct-32 IGB (ISIN: IE00BMD03L28) and E850mln of the 2.00% Feb-45 IGB (ISIN: IE00BV8C9186).

NET NOMINAL FLOWS: There were no redemptions due this week and only negligible coupon payments. This leaves estimated net flows for the week at positive E28.6bln (up from negative E10.4bln last week).

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

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  • Germany returned to the market on Wednesday allotting E3.23bln of the 10-year 0% Feb-32 Bund (ISIN: DE0001102580) with issuance volumes of E4.0bln.
  • Portugal also held an OT auction on Wednesday, selling E750mln of the 0.475% Oct-30 OT (ISIN: PTOTELOE0028), the top of the target range.
  • Yesterday,Italy sold E6.75bln of 3/7/25-year BTPs: E2.0bln of the 1.20% Aug-25 BTP (ISIN: IT0005493298), E3.75bln of the new 7-year BTP (ISIN:IT0005495731) and E1.0bln of the 3.45% Mar-48 BTP (ISIN: IT0005273013).
  • Ireland also came to the market on Thursday morning, concluding Eurozone issuance for the week. A combined E1.25bln was sold (top of the target range): E400mln of the 0.35% Oct-32 IGB (ISIN: IE00BMD03L28) and E850mln of the 2.00% Feb-45 IGB (ISIN: IE00BV8C9186).

NET NOMINAL FLOWS: There were no redemptions due this week and only negligible coupon payments. This leaves estimated net flows for the week at positive E28.6bln (up from negative E10.4bln last week).

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