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Bill Supply for W/C Jan 17, 2022: Review

EUROZONE T-BILL ISSUANCE

Germany, the Netherlands and France issued bills Monday for a total of E11.6bln. Spain and the ESM then issued bills for E3.6bln on Tuesday.

  • Germany kicked off Monday morning's issuance by allotting E2.726bln of the new 12-month Jan 18, 2023 Bubill. Issuance volumes were E3.0bln.
  • The Netherlands also came to the market Monday morning, selling E2.82bln DTCS in total: E1.33bln of the 4.5-month May 30, 2022 DTC and E1.49bln of the 6.5-month Jul 28, 2022 DTC.
  • Monday afternoon, France sold sell up to E5.786bln of BTFs, the upper end of the target range: E2.695bln of the 12-week Apr 13, 2022 BTF, E1.955bln of the new 23-week Jun 29, 2022 BTF and E1.596bln of the 50-week Jan 4, 2023 BTF.
  • Tuesday morning, Spain sold E2.08bln of 3/9-month letras vs a E1.5-2.5bln target: E540mln of 3-month Apr 8, 2022 letras and E1.54bln of 9-month Oct 7, 2022 letras.
  • The ESM also came to the market Tuesday to sell E1.5bln of the new 6-month Jul 21, 2022 bill.

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