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Bill supply for W/C Mar 15, 2021: Recap


Germany, the Netherlands, France, the ESM, Portugal and Ireland have all sold bills so far this week with E18.1bln raised through first round auctions, less than the E24.9bln sold last week.

  • Germany allotted E5.702bln of 5/11-month bubills with an issuance volume of E6bln: E1.857bln of the 5-month Aug 25, 2021 bubill and E3.845bln of the 11-month Feb 23, 2022 bubill.
  • The Netherlands sold E2.15bln TCs in a target of E1-3bln: E1.09bln of the Jun 29, 2021 DTC and E1.06bln of the Aug 30, 2021 DTC on offer.
  • Monday afternoon, France sold E6.179bln, at the top of its E4.6-6.2bln target range of BTFs: E2.797bln of the 12-week Jun 9, 2021 BTF, E1.493bln of the new 23-week Aug 25, 2021 BTF, E0.497bln of the 39-week Dec 15, 2021 BTF and E1.392bln of the 49-week Feb 23, 2022 BTF.
  • On Tuesday, the ESM sold E1.5bln of the new 6-month Sep 23, 2021 bill.
  • On Wednesday, Portugal sold E1.5bln of BTs, the top of its E1.25-1.50bln target range: E500mln of the 6-month Sep 17, 2021 BT and E1.0bln of the new 12-month Mar 18, 2022 BT.
  • On Thursday, Ireland concluded issuance for the week, reopening the 5-month Aug 23, 2021 ITB for E750mln.

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