Free Trial

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

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Germany, France, Italy and Spain will issue EGBs this week.
We estimate supply (excluding redemptions) of E28.3bn compared to E20.4bn last
week.
- ISSUANCE: Italy will be the first to come to market on Tuesday with a sale of
the 1.85% Jul-25 BTP, Dec-23 CCTeu, 1.65% Dec-30 BTP and 0.95% Aug-30 BTP for a
combined E5.75-7.75bn. Germany will then re-open the 0% Nov-27 Bund for E3bn on
the same day. Thursday will be the heaviest day for issuance with both France
and Spain holding auctions. Spain will sell the 0.0% Jan-25 Bono, 0.80% Jul-27
Obli, 1.25% Oct-30 Obli and the 1.00% Nov-30 ObliEi with target volumes TBA.
France will tap the 0.0% Nov-30 OAT, 1.25% May-34 OAT, 1.75% Jun-39 OAT and the
0.75% May-52 OAT for E10.25-11.75bn. 
- CASH FLOWS: There will be E0.3bn in coupon payments and E0.1bn in redemptions
which will leave net cash flows at E27.8bn for the week.
** For further details please MNI Eurozone Issuance Profile & Cash Flow Matrix:
https://emedia.marketnews.com/CFM290620vdhj.pdf

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.