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Eurozone T-bill issuance...>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Eurozone T-bill issuance is expected to squeeze higher
to E14.2bln next week versus E13.243bln issued this week, with Italy, France and
Belgium scheduled to come to the market. 
- SUPPLY: Italy kicks off issuance on Monday with launch of a new 6-month Aug
31, 2018 BOT for E6.0bln. Then in the afternoon France issue new 3-month May 30,
2018 BTF for between E3.0-E3.4bln, tap 6-month Aug 1, 2018 BTF for between
E1.3-E1.7bln and 12-month Jan 30, 2019 BTF for between E1.1-E1.5bln. On Tuesday
Belgium re-open 5-month Jul 11, 2018 T-bill and 7-month Sep 13, 2018 T-bill for
a combined size of between E1.5-E1.9bln.
- REINVESTMENT FLOWS: T-bill redemptions next week are due from France
E7.133bln, Italy E6.0bln and the Netherlands E4.38bln, turning net cash flow
negative to the tune of E3.3bln vs +E4.2bln this week.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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