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Bill Supply For W/C Oct 18, 2021: Upcoming

EUROZONE T-BILL ISSUANCE

Spain, Austria, the ESM, the EU and Ireland are all still due to sell bills this week. We look for a further E9.0bln of bill issuance this week, which would leave a total of E24.4bln of issuance from first round operations this week, up from E20.8bln last week.

  • Spain will look to sell E1.5-2.5bln 3/9-month letras this morning. On offer will be 3-month Jan 14, 2022 letras and 9-month Jul 8, 2022 letras.
  • Austria will then look to sell E1bln of the new 3-month Jan 27, 2022 ATB and E1bln of the new 6-month Apr 28, 2022 ATB.
  • Today's issuance will conclude with the ESM looking to sell E1.5bln of the new 6-month Apr 21, 2022 bill.
  • Tomorrow, the EU will offer up to E1.5bln of the 3-month Jan 7, 2022 EU-bill and up to E1.5bln of the 6-month Apr 8, 2022 EU-bill.
  • Ireland will round off issuance for the week on Thursday, with E750mln of the new 6-month Apr 25, 2022 bill on offer.

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