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EUROZONE ISSUANCE: Italy,.........>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: EUROZONE ISSUANCE: Italy, Germany and France will come to
market this week for E16.8bln, versus E17.8bln last week. 
- RECAP: Italy tapped the market for E6.75bln with sales of the 1.00% Jul-22 BTP
2.10% Jul-26 BTP and the 3.85% Sep-49 BTP. Germany allotted E0.806bln of the
1.25% Bund Aug-48 on Wednesday.
- ISSUANCE: France will issue nominal bonds and linkers on Thursday. On offer
are the 0.00% Feb-22 OAT and the 0.00% Mar-25 OAT for E8.0-9.0bln and the 2.10%
Jul-23 OATi, 0.10% Mar-29 OATEi and the 0.10% Jul-36 OATEi for E1.0-1.5bln. 
- CASH FLOW: There will be limited cash returning to market this week (E1.3bln
in redemptions and E2.3bln in coupons) leaving net cash flow for the week at
positive E13.2bln ** For full details, please see MNI Eurozone bond auction
calendar, and MNI Cash Flow Matrix: https://emedia.marketnews.com/CFM130519.pdf

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