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EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Germany, France, Italy and the Netherlands will issue
T-bills this week. We estimate supply of E26.0bn compared to E24.4bn last week.
- ISSUANCE: Germany will be the first to come to market with a sale of 6- and
12-month bubills for E4bn each on Monday. On the same day the Netherlands will
sell 9-month DTCs for E1.0-2.0bn and 12-month DTCs for E1.5-2.5bn. France will
the conclude Monday's issuance with a sale of 3-/6-/12-month BTFs for
E7.3-8.5bn. Italy will then sell BOTs on Friday with details TBA. 
- CASH FLOWS: There will be E8.3bn in redemptions which will leave net cash
flows at E17.7bn for the week.
** For further details please see MNI Eurozone T-Bill Calendar

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