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Eurozone sovereign bond...........>

EUROZONE ISSUANCE: Eurozone sovereign bond issuance is estimated to fall to rise
to E26.25bln in the coming week compared to E18.75bln over the past week. 
- RECAP: On Tuesday, Italy sold E2.0bln of CCTeu Apr-25, E1.75bln of BTP 0.9%
Aug-22, E4.5bln of a BTP 2% Feb-28 (new) and E0.75bln of BTP 2.8% Mar-67. 
- ISSUANCE: On Wednesday, Germany sells E4.0bln a new Obl Apr-23. On Thursday,
France sells E8.0-9.0bln of OAT 0.75% May-28, OAT 1.25% May-34 and OAT 1.75%
May-66 and Spain sells E3.0-4.0bln SPGB 0.05% Jan-21, SPGB 2.15% Oct-25 and SPGB
4.7% Jul-41 alongside E0.5-1.0bln of SPGBei 0.65% Nov-27. Syndicated
possibilities are numerous but should not be very heavy.
- CASH FLOWS: In terms of reinvestment flows, there are E41.4bln of redemptions:
E19.5bln from Spain and E22bln from Italy. Coupon payments amount to E8bln this
week, leaving a net cash inflow of E23bln. 
** For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: and MNI Eurozone Issuance

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