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EGB Supply For W/C Oct 26

EUROZONE ISSUANCE
Germany and Italy will issue government bonds in the W/C Oct 26. We estimate supply of E10.8bn compared to E10.5bn the previous week.
  • RECAP: Italy sold the Sep-22 CTZ and the 0.65% May-26 BTPEi for EUR3.25bn
  • ISSUANCE: Germany will come to market on Wednesday to sell E2bn of the 0% May-35 Bund. Italy returns for a second time on Thursday to sell E2.0-2.5bn of the 0.50% Feb-26 BTP, E2.5-3.0bn of the 0.90% Apr-31 BTP and E0.75-1.00bn of the Dec-23 CCTeu.
  • CASH FLOWS: E44.1bn of redemptions and E11.8bn of coupon payments will leave net cash flows at E-45.8bn for the week.
** For further details please see MNI Eurozone Issuance Profile and Cash Flow Matrix.

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