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EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Germany, France, Spain, Belgium, the Netherlands,
Portugal, Ireland and the ESM sold T-bills this week with supply estimated
coming to E24.9bln compared to E27.0bln last week. 
- RECAP: Spain was the first to auction this week with a sale of 6- and 12-month
letras for E6.875bn on Tuesday. Belgium followed with a sale of the Jul 9, 2020
and Mar 11, 2021 bills for E2.745bn. Germany allotted E1.79bn of 12-month
bubills. France auctioned a combination of 3-/6-12-month BTFs for E7.871bn.
Following a suspended auction due to technical issues at Eurex on Tuesday, the
Netherlands sold E2.62bn in 3-month and 9-month bills on Wednesday. On the same
day Portugal sold E1.25bn of 3- and 11-month bills, while the ESM sold E997.4mn
of 12-month bills. Ireland concluded issuance for the week with a sale of
6-month bills for E0.75bn.
- CASH FLOWS: There will be E13.4bn in redemptions which will leave net cash
flow at E11.5bln for the week.
** For further details please MNI Eurozone T-Bill Calendar

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