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EUROZONE T-BILL ISSUANCE: W/C September 30, 2024

EUROZONE T-BILL ISSUANCE

Spain, Belgium, the ESM, Greece and the EU are due to sell bills this week, while Germany and France have already come to the market. We expect issuance to be E21.6bln in first round operations, up from E21.5bln last week.

  • This morning, Spain will come to the market to sell a combined E4.5-5.5bln of the 6-month Apr 11, 2025 letras and the new 12-month Oct 1, 2025 letras.
  • Also this morning, Belgium will sell an indicative E2.0bln (E1.8-2.2bln range) of the 4-month Jan 9, 2025 TC.
  • Finally today, the ESM will issue up to E1.1bln of the new 3-month Jan 9, 2025 bills.
  • Tomorrow, Greece will sell E500mln of the new 13-week Jan 3, 2025 GTB.
  • Also tomorrow, the EU will end the week by selling up to E1.5bln of the 3-month Jan 10, 2025 EU-bill and  up to E2.0bln of the new 6-month Apr 4, 2025 EU-bill.

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

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Spain, Belgium, the ESM, Greece and the EU are due to sell bills this week, while Germany and France have already come to the market. We expect issuance to be E21.6bln in first round operations, up from E21.5bln last week.

  • This morning, Spain will come to the market to sell a combined E4.5-5.5bln of the 6-month Apr 11, 2025 letras and the new 12-month Oct 1, 2025 letras.
  • Also this morning, Belgium will sell an indicative E2.0bln (E1.8-2.2bln range) of the 4-month Jan 9, 2025 TC.
  • Finally today, the ESM will issue up to E1.1bln of the new 3-month Jan 9, 2025 bills.
  • Tomorrow, Greece will sell E500mln of the new 13-week Jan 3, 2025 GTB.
  • Also tomorrow, the EU will end the week by selling up to E1.5bln of the 3-month Jan 10, 2025 EU-bill and  up to E2.0bln of the new 6-month Apr 4, 2025 EU-bill.

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