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EGB Supply For W/C Oct 4, 2021 (2/2)

EUROZONE ISSUANCE
  • On Thursday, Spain will look to sell the 0% Jan-28 Bono, the 0.50% Oct-31 Obli, the 2.70% Oct-48 Obli and the 0.70% Nov-33 Obli-Ei. Amounts will be confirmed Monday.
  • Also Thursday, France will look to sell E10-11bln of LT OATs: the 2.50% May-30 OAT, the 0% Nov-31 OAT, the 0.75% May-53 OAT and the 1.75% May-66 OAT.
  • Belgium will conclude issuance for the week on Friday with its ORI operation (details will be announced on Thursday).

NET NOMINAL FLOWS: There will be a single redemption, E21.5bln of the German 0% Oct-21 Bobl. Coupon payments will be minimal (rounding to E0.1bln). With gross nominal issuance of E24.0bln, this leaves our estimate of net nominal cash flows at E2.4bln for the week, down slightly from the E4.9bln seen last week.

For a recap of last week's issuance alongside graphical representations of issuance in the upcoming weeks and detailed tables of coupon and redemption schedules for the year ahead see the full document.

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