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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 E11.845bln allocated by France and Italy versus E12.293bln issued last
week. 
- RECAP: To recap issuance for this week, on Monday afternoon France allotted
E3.499bln in issue of a 3-month BTF, E1.196bln tap of a 6-month BTF and E1.15bln
tap of a 12-month BTF. On Tuesday Italy sold E6bln in a new 6-month BOT. 
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France
E6.272bln, Italy E6bln and the Netherlands E4.32bln, turning net cash flow
negative to the tune of E4.75bln vs +E6.73bln last week.
- SCHEDULE: Issuance next week is estimated to increase to E14bln with supply
from France, Spain, Belgium, the Netherlands and Greece.

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