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Eurozone T-bill issuance...>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Eurozone T-bill issuance is expected to modestly
increase to E14bln next week versus E9.441bln issued this week, with France,
Belgium, Italy and Greece scheduled to come to the market. 
- SUPPLY: First up on Monday afternoon, France issue new 3-month May 3, 2018 BTF
for between E2.3-E2.7bln, tap 6-month Jul 4, 2018 BTF for between E1.1-E1.5bln
and tap 12-month Jan 4, 2019 BTF for between E0.9-E1.3bln. On Tuesday Italy
issue a new 6-month Jul 31, 2018 BOT for E6.5bln. Also on Tuesday Belgium
re-open 3-month May 10, 2018 T-bill for between E0.9-E1.3bln. Greece then
completes issuance on Wednesday with issue of a new 26-week Aug 3, 2018 T-bill
for E625mln.
- REINVESTMENT FLOWS: T-bill redemptions next week are due from France
E7.467bln, Italy E6.5bln, the Netherlands E4.75bln and Greece E1bln, turning net
cash flow negative to the tune of E5.7bln vs +1.8bln this week.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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