Free Trial

EGB Supply W/C 19 June, 2023 (2/2)

EUROZONE ISSUANCE
  • On Tuesday, Germany will look to sell E5.5bln of the 2.80% Jun-25 Schatz (ISIN: DE000BU22015).
  • On Wednesday, Greece will hold a GGB auction, with the bonds on offer to be confirmed the day before the auction.
  • Also on Wednesday, Germany will return to the market to sell E1.0bln of the 0% Aug-50 Bund (ISIN: DE0001102481) and E1.5bln of the 0% Aug-52 Bund (ISIN: DE0001102572).
  • In addition to these auctions, we are likely to receive H2 funding plans from the EU and Q3 funding plans from Germany and the Netherlands.

NET NOMINAL FLOWS: The week sees redemptions totalling E12.8bln (mainly a E12.7bln formerly 10-year Belgian OLO) while coupons for the week are expected to be E5.1bln (of which E4.2bln are Finnish). With estimated nominal issuance of E12.4bln, this would leave estimated net flows of negative E5.5bln for the week, down from positive E18.2bln this week.

For more on next week's supply, a recap of this week's issuance and a look ahead to two weeks from now see the PDF here

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.