Free Trial

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

EUROZONE ISSUANCE
  • Spain came to the market Thursday morning to sell E4.115bln of Bonos/Oblis against a E4-5bln target: E1.489bln of the 5-year on-the-run 0% Jan-27 Bono, E865mln of the off-the-run 0.60% Oct-29 Obli and E1.761bln of the on-the-run 10-year 0.50% Oct-31 Obli.
  • France then sold E7.494bln of MT OATs, the top of the target range: E3.047bln of the on-the-run 3-year 0% Feb-24 OAT, E2.598bln of the on-the-run 5-year 0% Feb-27 OAT and E1.849bln of the off-the-run 2.75% Oct-27 OAT.
  • The week's issuance concluded later Thursday with France selling E1.746bln of linkers (again the top of the target range): E565mln of the 0.10% Mar-26 OATei, E573mln of the 0.10% Mar-28 OATi and E608mln of the 0.70% Jul-30 OATei.

NET NOMINAL FLOWS: There are only negligible redemptions this week and E0.7bln of coupon payments (E0.6bln Italian), so we look for net nominal flows for the week of positive E15.9bln, a little lower than last week's positive E18.9bln.

For a calendar of all announced EGB/EU/ESM/EFSF/gilt 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.