Eurozone governments issued.......>

EUROZONE ISSUANCE: Eurozone governments issued E35.25bln of EGBs issuance this

week, marking it as the largest nominal supply week of the year. Next week is

the reverse with only E2.2bln of scheduled supply as the US market thins because

of Thanksgiving.

- ISSUANCE: On Monday, Slovakia sells 0.625% May-26 for E131mln and 1.875%

Mar-37 for E100mln. On Tuesday, Finland sells E1.0bln of RFGB 0.5% Sep-27.

Finally on Wednesday, Germany sells E1.0bln of Bund 1.25% Aug-48 and that closes

out the week. With nearly all European governments well-funded in 2017 and

Thanksgiving, there is little chance of a syndication. However, in the

background, Greece is undertaking a potential E32bln debt swap with expiration

deadline on Tuesday 28 November.

- CASH FLOWS: Next week there are no redemptions but E0.4bln of coupons from

Austria. So gross issuance is E2.2bln and net supply is E1.9bln.

**For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone

Net Cash Flow Matrix: http://tinyurl.com/gkrtmav and MNI Eurozone Issuance

Profile: https://tinyurl.com/ybnzlygd