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Eurozone T-bill issuance...>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Eurozone T-bill issuance is expected to fall to
E12.7bln next week versus E14.277bln issued this week, with the Netherlands,
France, Spain and ESM scheduled to come to the market. 
- SUPPLY: On Monday the Netherlands re-open 2.5-month Jan 31, 2018 DTC for
between E1-2bln and 5.5-month Apr 30, 2018 DTC for between E1-2.0bln. In the
afternoon France issue a new 3-month Feb 21, 2018 BTF for between E3.3-E3.7bln,
tap 6-month Apr 11, 2018 BTF for between E1.0-E1.4bln and 12-month Nov 7, 2018
BTF for between E0.7-E1.1bln. On Tuesday, Spain re-open 3-month Feb 16, 2018
T-bill and 9-month Aug 17, 2018 T-bill with size announced on Monday but
expected to be for up to E3bln. Also on Tuesday the ESM issue a new 6-month May
24, 2018 T-bill for E1.5bln.
- REINVESTMENT FLOWS: T-bill redemptions next week are due from France E6.091bln
and ESM E1.498bln, turning net cash flow positive to the tune of E5.1bln vs
-E9.6bln this week.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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