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Eurozone T-bill issuance...>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Eurozone T-bill issuance is expected to increase to
E16.75bln this week versus E11.49bln issued last week, with the Netherlands,
France, Spain, Belgium, ESM and Greece scheduled to come to the market. 
- SUPPLY: The Netherlands is up first on Monday with a new 6-month May 31, 2018
DTB for between E1.0-E2.0bln. In afternoon France tap 2-month Feb 14, 2018 BTF
for E0.2-E0.6bln, issue new 3-month Mar 7, 2018 BTF for E2.8-E3.4bln, tap
6-month May 9, 2018 BTF for E1.0-E1.4bln and tap 12-month Nov 7, 2018 BTF for
E0.6-E1.0bln. On Tuesday, Spain re-opens 6-month Jun 15, 2018 Letra and issues
new 12-month Dec 7, 2018 Letra with size announced on Monday but expected to be
for up to E4.5bln. Belgium then re-open 3-month Mar 8, 2018 TC and 6-month May
10, 2018 TC for between E0.8-E1.2bln. The ESM then issue new 3-month Mar 8, 2018
Bill for E1.5bln. Finally on Wednesday Greece issue new 13-week Mar 9, 2018
T-bill for E1.0bln and new 26-week Jun 8, 2018 T-bill for E1.25bln.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France
E8.412bln, Greece E3.6bln and ESM E3.6bln, turning net cash flow positive to the
tune of E3.24bln vs -E4.34bln last week.

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