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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 E13.2bln allocated by Germany, France, Belgium, Spain, Italy, Ireland
and Greece vs E22.97bln last week. 
- RECAP: To recap issuance for this week, on Monday the Netherlands allotted
E1.39bln in 2.5-month DTC and E1.52bln 5.5-month DTC. In the afternoon France
allotted E2.996bln tap of a 3-month BTF, E880mln tap of a 6-month BTF and
E750mln tap of a 12-month BTF. On Tuesday Spain allotted E470mln in 3-month
Letra and E1.95bln in 9-month Letra. While the ESM allotted E1.981bln in 6-month
Bills. On Wednesday Portugal re-opened 3-month T-bill for E300mln and 11-month
T-bill for E950mln.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France E9.282bln
and Ireland E500mln turning net cash flow positive to the tune of E3.4bln vs
-E1.5bln last week
- SCHEDULE: Issuance next week is estimated to fall to E11bln with supply from
France and Italy.

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