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EGB Supply: W/C 4 March, 2024 (1/2)

EUROZONE ISSUANCE

The EU, Austria, Germany, the Netherlands, Germany, Italy and Belgium all due to issue in the week ahead. We pencil in estimated gross issuance for the week at E30.4bln, a little higher than the E26.3bln this week but without the large redemptions and coupons.

  • The EU will kick off issuance for the week on Monday selling 5/15-year EU-bonds: up to E3bln of the 3.125% Dec-28 EU-bond (ISIN: EU000A3K4EN5) and up to E2bln of the 3.375% Oct-38 EU-bond (ISIN: EU000A3K4D74).
  • Tuesday will see Austria come to the market to hold an auction with a combined E2.0125bln of on-the-run 6/10-year RAGBs on offer: the 3.45% Oct-30 RAGB (ISIN: AT0000A38239) and the 2.90% Feb-34 RAGB (ISIN: AT0000A39UW5).
  • Germany will also come to the market on Tuesday with E4bln of the 2.10% Apr-29 Bobl (ISIN: DE000BU25026) on offer.

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