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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 E14bln allocated by Italy, France, Belgium and Greece versus E9.441bln
issued last week. 
- RECAP: To recap issuance for this week, on Monday Italy issued new 6-month BOT
for E6.5bln. In the afternoon France allotted E2.693bln of a new 3-month BTF,
E1.496bln tap of a 6-month BTF and E1.295bln tap of a 12-month BTF. On Tuesday
Belgium allotted E1.203bln in 3-month BTC. On Wednesday Greece launched a new
26-week T-bill for E812.5mln.
- 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 +E1.8bln last week.
- SCHEDULE: Issuance next week is estimated to tick lower to E12bln with supply
from the Netherlands, France, ESM, Belgium and Greece.

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