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EGB Supply For W/C Nov 15, 2021 (1/2)

EUROZONE ISSUANCE

This week will see issuance from Slovakia, Finland, Germany, Italy, Spain and France. MNI estimates gross issuance for the week at E16.2bln, down from last week's E19.0bln.

  • Slovakia kicked off issuance for the week on Monday selling E335mln combined of 3/9/15-year SlovGBs: E155.5mln of the 0% Jun-24 SlovGB, E79mln of the 1.00% Oct-30 SlovGb and E100mln of the 0.375% Apr-36 SlovGB.
  • Yesterday, Finland sold a combined E960mln of 10/25-year RFGBs against a E1bln target: E460mln of the 0.125% Sep-31 RFGB and E500mln of the 1.375% Apr-37 RFGB.
  • This morning will see Germany come to the market to issue E1bln of the 30-year 0% Aug-52 Bund.
  • Italy will also come to the market to hold a syndicated tap of the 3.875% May-51 USD ITALY bond which was launched in April for USD1.5bln. We would expect a transaction size of USD1.0bln.

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