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Germany and Italy will be the.....>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Germany and Italy will be the only EGB issuers this week. We
estimate supply of E13.0bln compared to E20.6bln last week.
- RECAP: Italy sold E1.25bln of the 0.10% May-23 BTPEi and E2.0bln of the 0.0%
Nov-21 CTZ on Tuesday. Germany allotted E0.0% Apr-25 Bobl for E3.157bln on
Wednesday.
- ISSUANCE: Italy will return for a second time on Thursday with a sale of the
0.35% Feb-25 BTP for E2.25-2.75bln, the 1.35% Apr-30 BTP for E2.75-3.25bln and
the Dec-23 CCTeu for E2.25-2.75bln.
- CASHFLOWS: There will be E24.8blnin redemptions and E7.3bln in coupon payments
(including E6.1bln from Spain) which will leave net cashflows at E-19.1bln for
the week.
** For further details please see MNI Eurozone Issuance Profile and Cashflow
Matrix: https://emedia.marketnews.com/marketnewsintl/CFM270120pwnc.pdf

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