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EGB Supply: W/C 19 February, 2024

EUROZONE ISSUANCE
The EU, Slovakia, Germany, Finland and Italy are the only countries scheduled to hold institutional issuance operations in the week ahead, with subscriptions for Belgium’s retail state bonds due to begin. We pencil in estimated gross issuance (ex-retail) for the week at E24.7bln, down from an estimated E37.8bln last week.

NET NOMINAL FLOWS: The week ahead sees E4.6bln of redemptions: E4.0bln from a formerly 10-year EFSF bond and USD0.7bln from a Slovenian USD bond. Coupons for the week sum to E1.5bln including E0.9bln Austrian. This leaves estimated net flows for the week at positive E18.5bln, compared to negative E8.4bln lsat week.

For the full MNI EGB Issuance, Redemption and Cash Flow Matrix see the full PDF here.

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