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EUROZONE T-BILL ISSUANCE: W/C November 18, 2024

EUROZONE T-BILL ISSUANCE

Germany, the Netherlands, France, the ESM, Portugal and the EU are due to sell bills next week. We expect issuance to be Xbln in first round operations, X from X this week.

  • On Monday morning, Germany will look to sell E2bln of the 6-month Jun 18, 2025 bubill and E3bln of the new 12-month Nov 19, 2025 bubill.
  • Also on Monday morning, the Netherlands will issue E1.0-2.0bln of the 2.5-month Jan 30, 2025 DTC and E1.0-2.0bln of the 5.5-month Apr 29, 2025 DTC.
  • Finally on Monday afternoon, France will come to the market with up to a combined E8.2bln of 13/22/28/50-week BTFs. On offer will be E3.4-3.8bln of the 13-week Feb 19, 2025 BTF, E0.0-0.4bln of the 22-week Apr 24, 2025 BTF,  E1.6-2.0bln of the new 28-week Jun 4, 2025 BTF and E1.6-2.0bln of the 50-week Nov 5, 2025 BTF.
  • On Tuesday, the ESM will sell up to E1.1bln of the new 6-month May 22, 2025 bill.
  • On Wednesday morning, Portugal will come to the market with E0.75-1.0bln of the new 12-month Nov 21, 2025 BT.
  • To conclude bill issuance for the week, the EU will issue up to E1.5bln of the 3-month Feb 7, 2025 EU-bill and up to E2.0bln of the 6-month May 9, 2025 EU-bill.

For more on future auctions see the full MNI Eurozone/UK T-bill auction calendar here.

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Germany, the Netherlands, France, the ESM, Portugal and the EU are due to sell bills next week. We expect issuance to be Xbln in first round operations, X from X this week.

  • On Monday morning, Germany will look to sell E2bln of the 6-month Jun 18, 2025 bubill and E3bln of the new 12-month Nov 19, 2025 bubill.
  • Also on Monday morning, the Netherlands will issue E1.0-2.0bln of the 2.5-month Jan 30, 2025 DTC and E1.0-2.0bln of the 5.5-month Apr 29, 2025 DTC.
  • Finally on Monday afternoon, France will come to the market with up to a combined E8.2bln of 13/22/28/50-week BTFs. On offer will be E3.4-3.8bln of the 13-week Feb 19, 2025 BTF, E0.0-0.4bln of the 22-week Apr 24, 2025 BTF,  E1.6-2.0bln of the new 28-week Jun 4, 2025 BTF and E1.6-2.0bln of the 50-week Nov 5, 2025 BTF.
  • On Tuesday, the ESM will sell up to E1.1bln of the new 6-month May 22, 2025 bill.
  • On Wednesday morning, Portugal will come to the market with E0.75-1.0bln of the new 12-month Nov 21, 2025 BT.
  • To conclude bill issuance for the week, the EU will issue up to E1.5bln of the 3-month Feb 7, 2025 EU-bill and up to E2.0bln of the 6-month May 9, 2025 EU-bill.

For more on future auctions see the full MNI Eurozone/UK T-bill auction calendar here.