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EUROZONE ISSUANCE: EGB Supply

EUROZONE ISSUANCE

Germany, Spain, and France look to hold auctions this week, with Germany already having held one auction. We pencil in estimated gross issuance for the week at E25.9bln, down from E38.6bln last week.

  • Germany will return to the market this morning to sell E4.5bln of the 10-year 2.60% Aug-34 Bund (ISIN: DE000BU2Z031).
  • Spain will hold a Bono/Obli/ObliEi auction tomorrow. On offer will be E4-5bln nominals: the on-the-run 3-year 2.50% May-27 Bono (ISIN: ES0000012M77), the 1.45% Apr-29 Obli (ISIN: ES0000012E51), the 4.70% Jul-41 Obli (ISIN: ES00000121S7). Alongside this will be E250-750mln of the 2.05% Nov-39 Obli-Ei (ISIN: ES0000012M69).
  • Also tomorrow France will hold a LT OAT auction to sell a combined E10-12bln. On offer will be the 1.25% May-34 OAT (ISIN: FR0013313582), the 3.00% Nov-34 OAT (ISIN: FR001400QMF9), the 3.25% May-55 OAT (ISIN: FR001400OHF4) and the 3.00% Jun-49 Green OAT (ISIN: FR001400NEF3).

For more on this week's issuance and a look ahead to next week see the PDF here: EZ241002.pdf

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Germany, Spain, and France look to hold auctions this week, with Germany already having held one auction. We pencil in estimated gross issuance for the week at E25.9bln, down from E38.6bln last week.

  • Germany will return to the market this morning to sell E4.5bln of the 10-year 2.60% Aug-34 Bund (ISIN: DE000BU2Z031).
  • Spain will hold a Bono/Obli/ObliEi auction tomorrow. On offer will be E4-5bln nominals: the on-the-run 3-year 2.50% May-27 Bono (ISIN: ES0000012M77), the 1.45% Apr-29 Obli (ISIN: ES0000012E51), the 4.70% Jul-41 Obli (ISIN: ES00000121S7). Alongside this will be E250-750mln of the 2.05% Nov-39 Obli-Ei (ISIN: ES0000012M69).
  • Also tomorrow France will hold a LT OAT auction to sell a combined E10-12bln. On offer will be the 1.25% May-34 OAT (ISIN: FR0013313582), the 3.00% Nov-34 OAT (ISIN: FR001400QMF9), the 3.25% May-55 OAT (ISIN: FR001400OHF4) and the 3.00% Jun-49 Green OAT (ISIN: FR001400NEF3).

For more on this week's issuance and a look ahead to next week see the PDF here: EZ241002.pdf