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EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Germany, France, Spain, the Netherlands, Portugal,
Ireland and the ESM issued bills this week. Supply came to E24.4bn compared to
E40.4bn last week.
- RECAP: Germany allotted E3.09bn of 6-month bubills on Monday. The Netherlands
followed with a sale of 2.5-/5.5-/7.5-month DTCs for a combined E4.82bn. France
concluded Monday's issuance with a sale of 3-/6-/12-month BTFs for E8.5bn. Spain
sold 3-/9-month letras on Tuesday for E3.06bn. The
ESM then issued E2bn of 6-month bills. Portugal sold 3-month and 11-month bills
for E1.25bn on Wednesday. Ireland sold Dec 14, 2020 bills on Thursday for
E0.75bn.
- CASH FLOWS: There will be E9.1bn in redemptions which will leave net cash
flows at E15.3bln.
** For further details please see MNI Eurozone T-Bill Calendar

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