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German, France and Spain will.....>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: German, France and Spain will come to market this week with
supply estimated at E11.5bln compared to E12.9bln last week.
- ISSUANCE: Germany will kick off issuance for the week with a tap of the 0.0%
Aug-29 Bund for E3.0bln on Wednesday. Spain will then follow with an auction of
the 0.25% Jul-24 Bono, 0.60% Oct-29 Obli and the 2.70% Oct-48 Obli on Thursday
with volumes yet to be announced. France will re-open the 0.75% May-28 OAT,
5.50% Apr-29 OAT and the 4.00% Apr-60 OAT for a combined E4.0-5.0bln on the same
day.  
- CASHFLOWS: There are E25.6bln in redemptions and E1.7bln in coupons which will
leave net cash flows at negative E15.8.bln for the week
** For further details please see MNI Eurozone Issuance Calendar and Cash Flow
Matrix: https://emedia.marketnews.com/marketnewsintl/MNI_Eurozone_CF18238341.pdf

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