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France and Greece are......>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: France and Greece are the only scheduled Eurozone bill
issuers set to come to market next week. MNI estimates E5.6bln in sales, the
smallest amount of the year so far, well down from E10.6bln this week and the
2019 weekly average of E14.0bln.
- ISSUANCE: On Monday, France sells up to E4.6bln in 3-/5-/6-/12-month BTF:
E2.0-2.4bln of 3-month Jul 24, 2019 BTF, E0.3-0.7bln of 5-month Sep 25, 2019
BTF, E0.0-0.4bln of 6-month Oct 9, 2019 BTF, and E0.7-1.1bln of 12-month Apr 22,
2020 BTF. On Tuesday, Greece sells E0.875bln of 6-month Nov 1, 2019 bills.
- CASH FLOW: There are E17.5bln in bill redemptions next week, including for
issuers France (E6bln) and Greece (E1.4bln). This will leave net cash flow at
negative E11.7bln, vs positive E4.7bln last week. ** For full details, please
see MNI Eurozone T-Bill auction calendar

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