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EGB Supply - W/C 15 January, 2024 (1/2)

EUROZONE ISSUANCE

Slovakia, Germany, Greece, Spain and France all look to hold auctions this week while we pencil in possible syndications from Austria or Greece (but see both as more likely next week). We pencil in estimated gross issuance for the week at E26.3bln, down from the record E67.4bln last week.

  • Slovakia will look to kick off issuance for the week today with a SlovGB auction. On offer will be the 3-year 0.125% Jun-27 SlovGB (ISIN: SK4000017380), the 9-year 4.00% Oct-32 SlovGB (ISIN: SK4000021986), the 13-year 0.375% Apr-36 SlovGB (ISIN: SK4000018958) and the 30-year 1.00% Oct-51 SlovGB (ISIN: SK4000019857).
  • On Tuesday, Germany will look to sell E4bln of the new Apr-29 Bobl (ISIN: DE000BU25026). The coupon will be confirmed this morning.
  • Greece will look to hold an auction on Wednesday, with details due to be announced the preceding day.
  • Wednesday will also see Germany hold a 30-year Bund auction. On offer will be E1bln of the 0% Aug-52 Bund (ISIN: DE0001102572) alongside E1bln of the 1.80% Aug-53 Bund (ISIN: DE0001102614).

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