Free Trial

EGB Supply - W/C 5 August, 2024

EUROZONE ISSUANCE

Austria and Germany both look to hold auctions in the upcoming week. We pencil in estimated gross issuance for the week at E7.4bln as issuance slows down in the summer, down from E31.9bln this week.

  • On Tuesday, Austria will kick off issuance for the week by holding an RAGB auction. On offer will be a combined E1.438bln of the on-the-run 10-year 2.90% Feb-34 RAGB (ISIN: AT0000A39UW5) alongside the 0% Oct-40 RAGB (ISIN: AT0000A2KQ43).
  • Also on Tuesday, Germany will sell E4bln of the 2.50% Oct-29 Bobl (ISIN: DE000BU25034).
  • On Wednesday, Germany will return to the market to hold a 15-year Bund auction. On offer will be E1.5bln of the 2.60% May-41 Bund (ISIN: DE000BU2F009) alongside E500mln of the 1.00% May-38 Bund (ISIN: DE0001102598).
NET NOMINAL FLOWS: The week ahead sees no redemptions. Coupon payments for the week total E0.2bln. This leaves estimated net flows for the week at positive E8.7bln, versus negative E4.4bln this week.

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.