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Eurozone T-bill issuance...>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Eurozone T-bill issuance has been completed for this
week with E12.924bln allocated by France, Italy and Greece versus E11.23bln
issued last week. 
- RECAP: To recap issuance for this week, on Monday afternoon France issued new
3-month BTF for E3.296bln, tapped 6-month BTF for E1.293bln and 12-month BTF for
E1.197bln. On Tuesday Italy issued new 6-month BOT for E6.0bln. On Wednesday
Greece issued a new 26-week T-bill for E1.1375bln.
- REINVESTMENT FLOWS: Redemptions this week are due from France E5.465bln, Italy
E6.15bln, the Netherlands E3.65bln and Greece E1.4bln, turning net cash flow
negative to the tune of E3.74bln vs +E2.18bln last week.
- SCHEDULE: Issuance next week is estimated to modestly fall to E9.5bln with
supply from the Netherlands, France, Belgium and Greece.

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