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

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Eurozone sovereign bond issuance was E12.5bln over this week,
next week should be close to E28.75bln 
- ISSUANCE: Belgium is expected to do E3.0-4.5bln of a new 15-20Y Green OLO
early in the week. On Valentines Day Italy will E2.0-2.5bln of BTP 0.2% Oct-20,
E2.5-3.0bln BTP 1.45% Nov-24 and E1.75-2.25bln 3.45% Mar-48. On Wednesday,
German sells E1.5bln of Bund 2.5 Jul-44. Thursday is heavy with France selling
short OATs and linkers (MNI sees around E10.5bln in total and Spain is scheduled
to sell debt (MNI sees around E5bln). There is limited scope for additional
syndicated deals.
- CASH FLOWS: There are E1.5bln of coupon payments evenly split between Portugal
and Germany but no redemptions and so gross supply will also be the net supply
total is E27.25bln. 
** For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: http://tinyurl.com/gkrtmav and MNI Eurozone Issuance
Profile: https://tinyurl.com/h7trj4x

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