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Eurozone T-Bill Supply For W/B Aug 24 Is Estimated At E23.0bn

EUROZONE T-BILL ISSUANCE

Germany, France, Italy, Spain, the Netherlands and Greece will issue bills the week beginning August 24. We estimate supply of E23.0bn compared to E18.0bn last week.
- ISSUANCE: Germany will kick off bill issuance with a sale of 12-month bubills for E4bn on Monday. The Netherlands will then sell 6- and 12-month DTCs for E2-4bn. France will conclude Monday's issuance with a sale of 3-/6-/12-month BTFs for a combined E4.2-5.4bn. Spain will come to market on Tuesday to auction 3- and 9-month letras with issue volumes TBA. On Wednesday Greece will sell E0.625bn of 6-month bills. Italy will wrap up bill issuance for the week with an auction of 6-month BOTs on Thursday.
- CASH FLOWS: E19.8bn of redemptions will leave net cash flows at E3.2bn for the week.
** For further details please seen MNI Eurozone T-Bill Calendar

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