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

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Eurozone sovereign bond issuance was E7bln in the past week,
next week picks up to E29.25bln.
- ISSUANCE: On Tuesday The Netherlands starts with a DDA for the new DSL Jul-28
with an issuance range of E4.0-6.0bln. The same day Italy sells BTP 0.2% Oct-20
for E2.0-2.5bln, a new 7Y BTP 1.45% May-25 for E3.5-4.0bln and a combined
E1.75-2.25bln of BTP 2.45% Sep-33 and BTP 2.70% Mar-47. On Wednesday, Germany
sells Bund 1.25% Aug-48 for E1.5bln. On Thursday Spain and France undertake
their regular bi-monthly.
- CASH FLOWS: There is a E13bln of Schatz redeeming on 16th. Additionally, there
are 3.9bln of EGB coupon payments including E1.8bln from Italy and E1.4bln from
Austria. Estimated gross supply exceeds cash inflows by E12.4bln. 
** 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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