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Eurozone T-bill issuance...>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Eurozone T-bill issuance has been completed this week
with E11.34bln allocated by the Netherlands, France, Belgium, ESM and Greece
compared to E11.83bln last week.
- RECAP: To recap issuance for this week, on Monday the Netherlands allotted
E1.69bln of a new 6-month DTC. In the afternoon France allotted E2.996bln,
E1.196bln and E1.098bln in 3-/6- & 12-month BTFs. On Tuesday Belgium re-opened
4-month T-bill for E902mln and 6-month T-bill for E715mln. Also on Tuesday the
ESM allotted E1.93bln in 3-month Bill. On Wednesday Greece issued E812.5mln of a
new 13-week T-bill.
- REINVESTMENT FLOWS: Redemption flows are light this week with just E1.0bln
from Greece, leaving cash flow positive by around E10.34bln compared with
negative E4.9bln last week.
- SCHEDULE: Issuance next week is estimated to increase to E19bln with supply
from Germany, France, Spain, Belgium and Italy

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