MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGB Supply - W/C January 23, 2023

EUROZONE ISSUANCE

Germany and Italy are still due to hold auctions with a Spanish syndication due. The Netherlands and Germany have already held auctions while the EU has already held a syndication. We look for gross nominal issuance at first round operations of E25.0bln for these deals, down from last week’s E32.6bln.

  • Spain announced a mandate to hold a syndication to launch a new 10-year Apr-33 Obli. As we outlined in both the week ahead EGB Issuance, Redemption and Cash Flow Matrix and the Eurozone Issuance Deep Dive 2023 Outlook, MNI had long penciled in this transaction to take place this week and we look for a E10bln transaction size.
  • Germany will return to the market on Wednesday with E1.5bln of the 15-year 1.00% May-38 Bund (ISIN: DE0001102598) on offer.
  • Italy will conclude issuance for the week on Thursday. Instead of issuing a new BTP Short Term (which we had expected) it will reopen two existing BTPs: E1.00-1.25bln of the 1.50% Jun-25 BTP (ISIN: IT0005090318) and E1.5-2.0bln of the 2.50% Nov-25 BTP (ISIN: IT0005345183). Also on offer will be E1.25-1.75bln of the 0.10% May-33 BTPei (ISIN: IT0005482994).
For more on this week's issuance see the PDF here:

EZ230125.pdf

BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.