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EUROZONE T-BILL ISSUANCE: W/C September 9, 2024

EUROZONE T-BILL ISSUANCE

Spain, Belgium, Finland and Italy are all still due to sell bills this week, whilst Germany and France issued yesterday. We expect issuance to be E25.8bln in first round operations, up from E23.8bln last week.

  • This morning, Spain will come to the market to sell a combined E1.5-2.5bln of the 3-month Dec 6, 2024 letras and the 9-month Jun 4, 2025 letras.
  • Also this morning, Belgium will sell a combined E3.0-3.4bln of 4/12-months TCs: An indicative E1.2bln of the 4-month Jan 9, 2025 TC and E2.0bln of the new 12-month Sep 11, 2025 TC.
  • Finally today, Finland will sell a combined E2bln of the 8-month May 13, 2025 RFTB and the new 11-month Aug 13, 2025 RFTB.
  • Tomorrow, Italy will end the week by issuing E7.5bln of its new 12-month Sep 12, 2025 BOT.

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

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Spain, Belgium, Finland and Italy are all still due to sell bills this week, whilst Germany and France issued yesterday. We expect issuance to be E25.8bln in first round operations, up from E23.8bln last week.

  • This morning, Spain will come to the market to sell a combined E1.5-2.5bln of the 3-month Dec 6, 2024 letras and the 9-month Jun 4, 2025 letras.
  • Also this morning, Belgium will sell a combined E3.0-3.4bln of 4/12-months TCs: An indicative E1.2bln of the 4-month Jan 9, 2025 TC and E2.0bln of the new 12-month Sep 11, 2025 TC.
  • Finally today, Finland will sell a combined E2bln of the 8-month May 13, 2025 RFTB and the new 11-month Aug 13, 2025 RFTB.
  • Tomorrow, Italy will end the week by issuing E7.5bln of its new 12-month Sep 12, 2025 BOT.

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