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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 this week versus E9.441bln issued last week, with France,
Belgium, Italy and Greece scheduled to come to the market.
- SUPPLY: First up on Monday will be Italy with launch of a new new 6-month Jul
31, 2018 BOT for E6.5bln. In  the 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 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 this 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 last week. 
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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