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EUROZONE ISSUANCE: EGB Supply - W/C 30 September, 2024

EUROZONE ISSUANCE

Germany, Spain, and France look to hold auctions in the upcoming week. We pencil in estimated gross issuance for the week at E26.3bln, down from E38.6bln last week.

  • Germany will kick off issuance tomorrow with E4bln of the 2.50% Oct-29 Bobl (ISIN: DE000BU25034) on offer.
  • Germany will return to the market on Wednesday to sell E4.5bln of the 10-year 2.60% Aug-34 Bund (ISIN: DE000BU2Z031).
  • Spain on Thursday will hold a Bono/Obli/ObliEi auction. On offer will be 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) and the 2.05% Nov-39 Obli-Ei (ISIN: ES0000012M69). The auction size will be confirmed later today.
  • Also on Thursday 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 a recap of last week's issuance and more details on the next two weeks see: MNI EGB Issuance, Redemption and Cash Flow Matrix here.

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Germany, Spain, and France look to hold auctions in the upcoming week. We pencil in estimated gross issuance for the week at E26.3bln, down from E38.6bln last week.

  • Germany will kick off issuance tomorrow with E4bln of the 2.50% Oct-29 Bobl (ISIN: DE000BU25034) on offer.
  • Germany will return to the market on Wednesday to sell E4.5bln of the 10-year 2.60% Aug-34 Bund (ISIN: DE000BU2Z031).
  • Spain on Thursday will hold a Bono/Obli/ObliEi auction. On offer will be 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) and the 2.05% Nov-39 Obli-Ei (ISIN: ES0000012M69). The auction size will be confirmed later today.
  • Also on Thursday 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 a recap of last week's issuance and more details on the next two weeks see: MNI EGB Issuance, Redemption and Cash Flow Matrix here.