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EGB Supply - W/C February 6, 2023

EUROZONE ISSUANCE

France, the Netherlands, Austria, Germany and Portugal have all come to the market this week. Announced gross nominal issuance this week is E18.5bln, substantially less than last week’s E47.5bln.

  • In terms of other syndications we still see a low chance, but some potential for an Italian transaction to be announced today and held tomorrow. We now think that we will see the Spanish longer-dated Obli (possibly 15-year) in the W/C 20 February (avoiding the auctions next week). And we could still see the Belgian 20/30-year OLO next week.

For more on this week's issuance see the PDF here:

EZ230209.pdf

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