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

EUROZONE ISSUANCE: Eurozone sovereign bond issuance was E12.5bln over the last

week, this week should be close to E29bln

- ISSUANCE: Belgium is expected to do E3.0-4.5bln of a new 15-20Y Green OLO

early in the week. On Tuesday, Italy sells 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, Portugal sells

E1.0-1.25bln of Oct-22 and Oct-28. On Wednesday, German sells E1.5bln of Bund

2.5% Jul-44. Thursday sees France sell E7.0-8.0bln of OAT 0% Feb-21, OAT 0%

Mar-23 and OAT 6% Oct-25. Also, E1.5-2.0bln of OATi 0.1% Mar-25, OATei 1.85%

Jul-27 and OATei 0.1% Jul-47. The same day, Spain is to sell 5Y 0.45% Oct-22,

10Y 1.4% Apr-28 and 15Y 2.35% Jul-33 for a combined amount of between

E4.0-E5.0bln. 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 total approx E28.5bln.

** 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