-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessEUROZONE ISSUANCE: EGB Supply - W/C 19 August, 2024
Germany will look to hold two auctions in the upcoming week, and we also think Finland may hold a syndication. Overall, issuance remains light during the summer. We pencil in estimated gross issuance for the week at E9.0bln, down from E18.2bln last week.
- Finland may look to hold its Q3 syndication in the upcoming week (if not it is likely to be the following week). The Finnish Treasury notes that a “potential maturity” is for 5-7 year, although it also noted that “if market conditions were to prove favourable for a longer maturity e.g 15 years, that could be considered”. The possibility of a 15-year RFGB was noted in the last two quarterly funding plans, so there does appear to be some eagerness from the Treasury to issue in this area if market conditions make it favourable.
- Tomorrow, Germany will hold a green auction. On offer will be E750mln of the 2.30% Feb-33 Green Bund (ISIN: DE000BU3Z005) and E750mln of the 0% Aug-50 Green Bund (ISIN: DE0001030724).
- On Wednesday, Germany will return to the market to sell E4.5bln of the 10-year 2.60% Aug-34 Bund (ISIN: DE000BU2Z031).
- Note that Belgium will not hold its auction planned for Monday, while Slovakia will also not hold its reserve auction which had been pencilled in for the same day. Spain has also cancelled its auction that had been due to be held on Thursday.
NET NOMINAL FLOWS: The week ahead sees one small redemption: E0.3bln of a formerly 7-year LithGB. Coupon payments for the week total E0.2bln, of which E0.1bln are from the EFSF and E0.1bln are Italian. This leaves estimated net flows for the week at positive E8.5bln, versus negative E23.1bln this week.
For a recap of last week's issuance and more details on the next two weeks see the MNI EGB Issuance, Redemption and Cash Flow Matrix here.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.