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Greece comes to the........>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Greece comes to the Eurozone T-bill issuance market
Wednesday with launch of a new 13-week Dec 15, 2017 T-bill for E1.0bln. Issuance
is now estimated to total E21.8bln versus E11.963bln issued last week.
- RECAP: To recap issuance so far this week, on Monday Germany allotted
E1.663bln in 6-month Bubill. In the afternoon France issued new 3-month BTF for
E2.996bln, tapped 6-month BTF for E1.493bln and tapped 12-month BTF for E560mln.
On Tuesday Spain allotted E595mln of a 6-month Letra and E4.491bln of a new
12-month Letra. Italy sold 6.5bln of a new 12-month BOT, while Belgium re-opened
3-month T-bill for E904mln and issued new 12-month T-bill for E1.601bln.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France
E12.721bln, Germany E2.0bln, Belgium E3.925bln, Spain E7.76bln, Italy E6.75bln
and Greece E1.6bln, turning net cash flow negative to the tune of E12.95bln vs
+E8.86bln last week.

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