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German Q3 funding plans

EUROZONE ISSUANCE
  • No changes to bubill issuance.
  • Capital markets auction issuance remains at E53.5bln but with the following changes:
    • 10 August: 30y 1.25% Aug-48 Bund auction size increased to E1.5bln (instead of E1.0bln).
    • 14 September: 2.50% Jul-44 Bund will be reopened for E1.0bln (instead of 0% Aug-52 Bund for E1.5bln).
  • The coupon for the Aug-32 Bund (to be launched on 6 July) has been set at 1.70%.
  • "The volume of the inflation-linked Federal bond maturing on 15 April 2046 will be increased by E0.5bln with effect from 1 July 2022 in order to be able to meet any demand flexibly in addition to regular auctions."

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