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PIPELINE

$1.5B Royal Bank of Canada 10Y Launched

COMMODITIES

WTI Remains Bullish, on Track for Cycle High Close

US TSYS/SUPPLY

2Y Auction ​Review: Small Stop

EURUSD TECHS

Consolidation Mode

EQUITIES

Earnings Drive Indices to Fresh Highs

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Eurozone sovereign bond issuance has been completed for this
week and totals E10.856bln vs E17.65bln last week.
- RECAP: Belgium kicked off issuance on Monday, allotting E705mln 0.50% Oct-24,
E1.112bln OLO, 0.80% Jun-28 OLO, E1.171bln 1.45% Jun-37 OLO, and E618mln 2.15%
Jun-66 OLO. On Wednesday Germany launched a new 5-yr Bobl for E4.0bln. On
Thursday Italy tapped 2-yr CTZ for E2.0bln and 1.30% May-28 BTPei for E1.25bln
- CASH FLOWS: There are redemptions of E9.2bln and coupons of E3.0bln this week
(almost entirely from France), leaving cash flow negative by E1.3bln, slightly
less negative compared with -E4.8bln last week.
** 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