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Germany, France and........>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Germany, France and Italy will come to the market this
week to issue T-bills. We estimate a total issuance of E11.5bln, little changed
from the E11.9bln issued this week.
- RECAP: Germany allotted E1.165bln of the 11-Dec 2019 Bubill on Monday. On the
same day France sold E4.385bln of 3-/5-/12-month BTFs.
- ISSUANCE: Italy are due to come to market on Thursday with details of the
auction to be confirmed next week.
- CASH FLOWS: There will be E4.875bln of redemptions, which will leave net cash
flows at E6.6bln for the week. ** For further details please see MNI Eurozone
T-Bill Calendar.

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