Free Trial

German Q2 Issuance Update

EUROZONE ISSUANCE
  • DFA has announced that there are no changes to the previously announced auction schedule for Q2 for Bubills, Schatz, Bobls and Bunds. This is as expected.
  • There is no updated guidance on syndications (the annual guidance included a E12bln target including at least one green tap). E10.5bln has already been raised through the launch and tap of the 2.50% Aug-54 Bund (leaving just E1.5bln of the original E12bln available).
  • The DFA has also confirmed one of each Bund on offer at each multi-ISIN auction in the quarter:
    • 17 April: E1bln of the 2.50% Aug-54 Bund (ISIN: DE000BU2D004) alongside E1bln of another issue.
    • 15 May: E1bln of the 1.80% Aug-53 Bund (ISIN: DE0001102614) alongside E1bln of another issue.
    • 29 May: E1.5bln of the May-41 Bund (ISIN: DE000BU2F009) alongside E500mln of another issue.
    • 19 June: E1bln of the 2.50% Aug-54 Bund (ISIN: DE000BU2D004) alongside E1bln of another issue.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.