Eurozone Sovereign bond...........>

EUROZONE ISSUANCE: Eurozone Sovereign bond issuance has been completed for this

week and totals E15.735bln.

- RECAP: To recap On Tuesday the Netherlands tapped 0.75% DSL Jul-28 for

E2.185bln. While Germany re-opened 0.50% Apr-30 IL Bund and 0.10% Apr-46 IL Bund

for a combined E0.8bln. On Wednesday Germany issued new 10-yr Aug-28 Bund for

E4bln and Portugal tapped 2.125% Oct-28 PGB and 2.25% Apr-34 PGB for E650mln and

E300mln respectively. On Thursday Italy tapped 0.05% Apr-21 BTP for E2bln, 1.45%

May-25 BTP for E2bln, 2.45% Sep-33 BTP for E1.25bln and 2.95% Sep-38 BTP

E1.25bln. Ireland then re-opened 10-yr 0.90% May-28 for E950mln and 2.0% Feb-45

for E300mln.

- CASH FLOWS: There are no redemptions and no significant coupon payments this

week so leaving net cash flow positive to tune of E15.7bln.

** For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone

Net Cash Flow Matrix: https://tinyurl.com/gkrtmav and MNI Eurozone Issuance

Profile: https://tinyurl.com/y7qhuwh2