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France and Germany will....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: France and Germany will be the only sellers in a quiet
week for issuance ahead, auctioning an estimated E6.8bln, vs E12.9bln last week.
- ISSUANCE: All bill issuance this week will be on Monday, starting with
Germany's re-opening of 3-month Oct 16, 2019 Bubill for E2.0bln. Later Monday,
France sells 3-month, 6-month and 12-month BTFs for up to E5bln. This includes
E2.1-2.5bln of Oct 16, 2019 BTF, E0.9-1.3bln of Dec 18, 2019 BTF, and
E0.8-1.2bln of Jul 15, 2020 BTF.
- CASH FLOWS: The light issuance schedule is matched by light redemptions: just
E6bln of bills maturing in total (all BTFs), leaving cash flow at positive
E0.8bln, versus positive E5.5bln last week.
** For full details, please see MNI Eurozone T-Bill auction calendar.

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