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France and Germany were....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: France and Germany were the only sellers in a quiet
week for bill issuance, auctioning an estimated E6.7bln, vs E12.9bln last week.
- ISSUANCE: All bill issuance this week was on Monday. Germany sold E1.713bln of
the 3-month Oct 16, 2019 Bubill. Later Monday, France sold 3-month, 6-month and
12-month BTFs for E5bln. This included E2.5bln of Oct 16, 2019 BTF, E1.3bln of
Dec 18, 2019 BTF, and E1.2bln of Jul 15, 2020 BTF.
- CASH FLOWS: The light issuance schedule this week is matched by light
redemptions: just E6bln of bills maturing in total (all BTFs), leaving cash flow
at positive E0.7bln, versus positive E5.5bln last week.
** For full details, please see MNI Eurozone T-Bill auction calendar.

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