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Italy, Belgium, Netherlands,......>

EUROZONE ISSUANCE: Italy, Belgium, Netherlands, Greece and the ESM issue T-Bills
this week with total issuance of E12.7bln expected. This compares to E12.1bln
last week.
- RECAP: The Netherlands sold E2.0bln of the 6-month Jan 31, 2020 DTC on Monday.
Belgium allotted a combined E1.65bln of the 3-month Nov 7, 2019 TC and 12-month
Jul 9, 2020 TC. On the same day the ESM raised E2.5bln from the sale of 3-month
Nov 7, 2019 bills. Greece sold a new 3-month Nov 8, 2019 T-Bill for E0.8125bln
on Wednesday
- ISSUANCE: Italy will end the week with a sale on Friday of 12-month August 14,
2020 BOTs for E6.5bln. 
- CASH FLOWS: There are E6.24bln in redemptions next week (the majority being
from maturing French BTFs; E5.24bln), which will leave cash flows positive at
** For full details, please see MNI Eurozone T-Bill auction calendar.

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