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EUROZONE T-BILL ISSUANCE: W/C October 7, 2024

EUROZONE T-BILL ISSUANCE

Germany, the Netherlands, France, Spain, Belgium, Finland and Italy are due to sell bills next week. We expect issuance to be E30.5bln in first round operations, up from E21.1bln this week.

  • On Monday, Germany will look to sell E3bln of the 3-month Jan 15, 2025 bubill and E2bln of the 9-month Jul 16, 2025 bubill.
  • Also on Monday morning, the Netherlands will issue E1.0-2.0bln of the 2-month Nov 28, 2024 DTC and E1.0-2.0bln of the new 6-month Mar 28, 2025 DTC.
  • On Monday afternoon, France will come to the market with up to a combined E8.0bln of 7/13/26/52-week BTFs: E0.0-0.4bln of the 7-week Nov 27, 2025 BTF; E4.0-4.4bln of the 13-week Jan 8, 2025 BTF; E1.3-1.7bln of the 26-week Apr 9, 2025 BTF; E1.1-1.5bln of the new 52-week Oct 8, 2025 BTF.
  • On Tuesday morning, Spain will look to sell the 3-month Jan 10, 2025 letras and the 9-month Jul 2, 2025 letras, with sizes to be announced on Monday.
  • Also on Tuesday morning, Belgium will issue an indicative (E2.8-3.2bln range) E1.6bln of the 13-week Jan 9, 2025 TC and E1.4bln of the 48-week Sep 11, 2025 TC
  • Finally on Tuesday, Finland will come to the market with up to a combined E2bln of the 7-month May 13, 2025 RFTB and the 10-month Aug 13, 2025 RFTB.
  • On Thursday, Italy will look to sell a new 12-month BOT, with details to be announced on Monday.

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

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Germany, the Netherlands, France, Spain, Belgium, Finland and Italy are due to sell bills next week. We expect issuance to be E30.5bln in first round operations, up from E21.1bln this week.

  • On Monday, Germany will look to sell E3bln of the 3-month Jan 15, 2025 bubill and E2bln of the 9-month Jul 16, 2025 bubill.
  • Also on Monday morning, the Netherlands will issue E1.0-2.0bln of the 2-month Nov 28, 2024 DTC and E1.0-2.0bln of the new 6-month Mar 28, 2025 DTC.
  • On Monday afternoon, France will come to the market with up to a combined E8.0bln of 7/13/26/52-week BTFs: E0.0-0.4bln of the 7-week Nov 27, 2025 BTF; E4.0-4.4bln of the 13-week Jan 8, 2025 BTF; E1.3-1.7bln of the 26-week Apr 9, 2025 BTF; E1.1-1.5bln of the new 52-week Oct 8, 2025 BTF.
  • On Tuesday morning, Spain will look to sell the 3-month Jan 10, 2025 letras and the 9-month Jul 2, 2025 letras, with sizes to be announced on Monday.
  • Also on Tuesday morning, Belgium will issue an indicative (E2.8-3.2bln range) E1.6bln of the 13-week Jan 9, 2025 TC and E1.4bln of the 48-week Sep 11, 2025 TC
  • Finally on Tuesday, Finland will come to the market with up to a combined E2bln of the 7-month May 13, 2025 RFTB and the 10-month Aug 13, 2025 RFTB.
  • On Thursday, Italy will look to sell a new 12-month BOT, with details to be announced on Monday.

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