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Eurozone bond issuance is.........>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Eurozone bond issuance is expected to slow this week to a
total of E22.8bln Vs E32.4bln issued last week. Germany are expected to come to
market twice this week, either side of an Italian auction. Spain also announced
that they would syndicate a new 15yr bond.  
- RECAP: Germany kicked off debt issuance for the week on Tuesday, allotting
E4.0bln in 0.00% Mar-21 Schatz. Later Tuesday, Spain syndicated the new 15yr
Jul-35 Obli for E7.5bln.  
- ISSUANCE: Wednesday sees the turn of Italy: they will auction the 2.45% Oct-23
BTP for E1.5bln-E2.0bln, the 3.00% Aug-29 BTP for E3.25bln-E4.0bln, and the
0.00% CCTeu for E0.75bln-E1.25bln. Later Wednesday, Germany will return to the
market to tap the 0.25% Feb-29 Bund for E3.0bln. 
- CASH FLOW: Cash returning to market this week totals E43.4bln, leaving total
cash flow at negative E20.7bln Vs positive E13.9bln last week. 
** For full details, please see MNI Eurozone bond auction calendar. 
* Cash Flow Matrix: https://emedia.marketnews.com/CFM250219.pdf

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