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Edging Away From Lows


China Repo Rates Rise on Monday


In Line With The Broader Theme

It will be a busy week for EGB....>

EUROZONE ISSUANCE: It will be a busy week for EGB issuance with Germany, France,
Spain, Belgium and Slovakia coming to market. Total supply is estimated at
E16.1bln compared to E19.4bln last week.
- ISSUANCE: Slovakia will be the first issuer of the week with a combined E200mn
tap of the 1.625% Jan-31 and 2.00% Oct-47 bonds on Monday. On the same day
Belgium will seek to raise E1.0-1.3bln from sales of the 0.90% Jun-29 OLO and
the 1.00% Jun-31 OLO. On Wednesday Germany will re-open the 0.0% Aug-50 Bund.
Spain will sell the 0.25% Jul-24 Bono, 0.60% Oct-29 Obli and the 3.45% Jul-66
Obli with target volumes to be announced in the week. France will be the last
and largest issuer of the week with E7.0-8.0bln in medium-term OATs and
E1.0-1.5bln in linkers. On offer are the 0.0% Mar-23 OAT, 0.0% Mar-24 OAT, 0.0%
Mar-25 OAT, 0.10% Mar-28 OATi, 0.10% Mar-29 OATEi and the 0.10% Jul-47 OATEi. 
- CASH FLOWS: There are E0.1bln in redemptions and E0.7bln in coupon payments
that will leave net cash flows at E15.3bln for the week. ** For further details
please see MNI Eurozone Issuance Profile and Cash Flow Matrix:
MNI London Bureau | +44 0203-865-3808 |
MNI London Bureau | +44 0203-865-3808 |