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Eurozone sovereign bond slows.....>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Eurozone sovereign bond slows dramatically from E31.6bln over
this week to just E10.5bln next week.
- ISSUANCE: On Monday Belgium sells 3.0-3.6bln of OLO 0.2% Oct-23, OLO 0.8%
Jun-28, OLO 1.45% Jun-37 and OLO 2.15% Jun-66. On Tuesday Germany sells E4bln of
BKO 0% Mar-20. On Wednesday, Slovakia sells E80mln each of SLOVGB 0% Nov-23 and
SLOVGB 1.625% Jan-31. Also Wednesday Germany also sells E3bln of Bund Feb-28.
- CASH FLOWS: There are E2bln of redemptions, E1bln each from Italy (a
CPI-linked structured bond) and Slovenia. Coupon payments add another E0.75bln,
mostly from Ireland. Estimated gross supply exceeds cash inflows by E7.7bln. 
** 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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