Eurozone T-bill issuance...>

EUROZONE T-BILL ISSUANCE: Eurozone T-bill issuance has been completed for this

week with E12.6bln allocated by the Netherlands, France, Belgium, ESM and Greece

vs E13.492bln last week. 

- RECAP: To recap issuance for this week, on Monday the Netherlands issued new

6-month DTC for E1.4bln. In the afternoon France allotted E3.193bln tap of a

3-month BTF, E1.299bln tap of a 6-month BTF and E998mln tap of a 12-month BTF.

On Tuesday Belgium allotted E755mln in 4-month TC and E551mln 6-month TC. While

the ESM issued new 3-month Bill for E1.928bln. On Wednesday Greece allotted

E812.5mln in 13-week T-bills and E1.625bln 26-week T-bills.

- REINVESTMENT FLOWS: T-bill redemptions this week are due from France E8.24bln,

Greece E3.6bln, and the ESM E2.0bln, keeping net cash flow negative by E1.2bln

vs -E3.4bln last week.

- SCHEDULE: Issuance next week is estimated to to rise E22bln with supply from

Germany, France, Belgium, Spain, Italy, Ireland and Greece.