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

EUROZONE ISSUANCE
  • On Thursday, Spain will look to sell E4-5bln nominals: the 0% Jan-28 Bono, the 0.50% Oct-31 Obli, the 2.70% Oct-48 Obli and E250-750mln of the 0.70% Nov-33 Obli-Ei.
  • 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 E24.5bln, this leaves our estimate of net nominal cash flows at E2.9bln for the week, down slightly from the E4.9bln seen last week.

For a calendar of all announced EGB/EU/ESM/EFSF auctions see the MNI EZ/UK Bond Supply Calendar here.

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