Free Trial

EGB Supply Recap For W/C Sep 28

EUROZONE ISSUANCE
Germany, France, Italy, Spain and Finland will issue sovereign bonds in the W/C Sep 28. We estimate supply of E30.8bn compared to E22.8bn last week.
  • ISSUANCE: Italy will be the first to come to market with an auction of the 0.50% Feb-26 BTP, 0.90% Apr-31 BTP and the Feb-24 CCTeu for a combined E6.75-8.25bn on Tuesday. Finland will follow with a tap of the 0.125% Apr-36 bond for E1bn. On Wednesday Germany will offer E4bn of the 0% Oct-25 Bobl. Spain and France will both hold auctions on Thursday. Spain will re-open the 0% Jan-25 Bono, 1.25% Oct-30 Obli, 3.45% Jul-66 Obli and the 0.70% Nov-33 ObliEi with issue volumes TBA. France will then conclude issuance for the week with a sale of the 0% Nov-30 OAT, 1.25% May-34 OAT, 0.50% May-40 OAT, 0.75% May-52 OAT for E10.0-11.5bn.
  • CASH FLOWS: E16.8bn in redemptions and E2.6bn in coupon payments will leave net cash flows at E11.4bn for the week.
** For further details please see MNI Eurozone Issuance Profile & Cash Flow Matrix: https://emedia.marketnews.com/cfm280920nmkl.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.