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EGB Supply - W/C 23 Oct, 2023 (2/2)

EUROZONE ISSUANCE
  • On Wednesday, Italy will look to hold a BTP Short Term / BTPei auction. On offer will be E2.0-2.5bln of the 3.60% Sep-25 BTP Short Term (ISIN: IT0005557084), alongside E1.0-1.5bln of the 1.50% May-29 BTPei (ISIN: IT0005543803).
  • Wednesday will also see Germany hold a 15-year Bund auction with E1.25bln of the 1.00% May-38 Bund (ISIN: DE0001102598) alongside E750mln of another off-the-run Bund.
  • Thursday will see Finland come to the market to hold an ORI operation.

NET NOMINAL FLOWS: The week ahead sees redemptions of E62.6bln: a formerly 15-year French OAT for E44.9bln, a formerly 15-year Portuguese OT RAGB for E9.4bln and a formerly 7-year Belgian OLO for E8.3bln. Coupon payments for the week total E9.2bln of which E8.3bln are French and E0.5bln Portuguese. This leaves net flows for the week an estimated negative E51.9bln.

For more on this week and next week's supply as well as a recap of last week's issuance see the PDF here.

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