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Free AccessEstimated T-Bill...........>
EUROZONE T-BILL ISSUANCE: Estimated T-Bill issuance slows to a still-robust
E13.7bln this week, from E21.6bln last week.
- SUPPLY: The Netherlands kicks off issuance on Monday, re-opening 3-month Nov
30, 2019 DTC for E1.0-2.0bln, and 6-month Feb 28, 2019 DTC for E1.0-2.0bln.
Later on Monday, France re-open 3-month Dec 12, 2018 BTF for between
E2.4-2.8bln, 6-month Feb 13, 2019 BTF for between E0.7-1.1bln, and 12-month Sep
11, 2019 BTF for between E0.7-1.1bln. On Tuesday, Spain re-opens 3-month Dec 7,
2018 Letra and 9-month Jun 14, 2019 Letra, total amount TBA but MNI estimates up
to E2bln. Then on Tuesday, the ESM sells new 6-month Mar 21, 2019 bills for up
to E2bln. On Wednesday, Portugal re-opens 6-month Mar 22, 2019 T-bill and sells
new 12-month Sep 20, 2019 T-bill for a combined E1.50-1.75bln. Ireland is
scheduled to issue T-bills on Thursday, announcement due on Monday.
- REINVESTMENT FLOWS: Redemptions this week are set to total E5.1bln which will
leave cash flow positive by around E8.7bln, compared with net negative E6.4bln
last week.
** For full details of forthcoming issues, see Eurozone T-bill auction calendar.
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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.