Free Trial

EGB Supply Is Estimated At E20.8bn For W/C Sep-21.

EUROZONE ISSUANCE

Germany, Italy, the Netherlands, Belgium and Slovakia will issue bonds in the W/C Sep 21. We estimate supply of E20.8bn compared to E19.5bn the previous week
- ISSUANCE: Slovakia will get the ball rolling on Monday with a tap of the 0% Jun-24 SlovGB, 0.75% Apr-30 SlovGB, 1.00% Oct-30 SlovGB and the 2.00% Oct-47 SlovGB for a combined E0.5bn. Belgium will follow with a sale of the 0.80% Jun-25 OLO, 1.00% Jun-31 OLO, and the 1.25% Apr-33 OLO. Germany comes to market on Tuesday to re-pen the 0% Sep-22 Schatz with E5bn on offer. The Netherlands will then issue a new 0% Jan-52 DSL via a Dutch Direct Auction (DDA). Germany returns for a second time on Wednesday to auction E3.5bn of the 0% May-35 bund. Italy will conclude issuance for the week with a sale of CTZ/BTPEi on Thursday.
- CASH FLOWS: E0.8bn in redemptions and E0.2bn in coupon payments will leave net cash flows at E19.7bn for the week.
** For further details please see MNI Eurozone Issuance Profile and Cash Flow Matrix: https://emedia.marketnews.com/cfm210920gfds.pdf

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.