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Germany was the lone issuer in....>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Germany was the lone issuer in Europe this week and is now
done but there is a small acceleration in the w/b Aug 28 to around E12.5bln of
issuance. 
- RECAP: On Wednesday German sold E3bln of the Aug-27. The next supply comes
from Italy: E1.5bln of 2Y CTZ May-19 on Monday Aug 28th and then Germany sells
E5bln of a new Schatz on 29th Aug. 
- CASH FLOW: The next redemption payment does not occur until an Italian CTZ on
30th August. This week, there are no significant coupon payments. Thus gross and
net supply are the same at E3bln. 
**For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: http://tinyurl.com/gkrtmav and MNI Eurozone Issuance
Profile: http://tinyurl.com/h7trj4x

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