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EGB Supply - W/C 11 December, 2023

EUROZONE ISSUANCE

Belgium is due to issue today (the last scheduled EGB operation of 2023) while Austria and Italy have already come to the market this week. We pencil in gross nominal issuance of E8.3bln for the week, down from E16.1bln last week.

This week has already seen the release of funding plans from the EFSF/ESM, the EU, France and Slovakia and will also likely see plans published by Austria (Thurs/Fri) and the Netherlands (Friday). See summaries of the plans so far this week in the PDF.

  • Belgium will look to conclude its 2023 issuance by holding an ORI operation today with up to E500mln combined on offer of the 5.00% Mar-35 OLO (ISIN: BE0000304130) and the 1.90% Jun-38 OLO (ISIN: BE0000336454).

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