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MNI EGB Issuance, Redemption and Cash Flow Matrix – W/C 15 April, 2024

Slovakia, the Netherlands, Finland, Greece, Germany, Spain and France are all due to issue in the week ahead.

  • Slovakia, the Netherlands, Finland, Greece, Germany, Spain and France are all due to issue in the week ahead.
  • We pencil in estimated gross issuance for the week at E41.9bln.
  • We see Austria and Italy as the most likely to hold syndications this week.
  • The week ahead sees redemptions of E29.8bln: E18.8bln from formerly 3-year BTP, E5.5bln from a formerly 5-year EFSF-bond, E5.0bln from a formerly 10-year RFGB and E0.6bln from a formerly 5-year LithGB. There will also be E5.0bln of coupon payments due: E2.4bln German, E1.0bln Portuguese, E0.8bln Italian and E0.7bln Finnish.
  • This leaves estimated net flows for the week at positive E7.2bln.

For more see the full including an overview of the next 2 weeks of issuance, a recap of this week's issuance and tables showing cash flows over the upcoming weeks, see the PDF here:

EZ240415.pdf

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  • Slovakia, the Netherlands, Finland, Greece, Germany, Spain and France are all due to issue in the week ahead.
  • We pencil in estimated gross issuance for the week at E41.9bln.
  • We see Austria and Italy as the most likely to hold syndications this week.
  • The week ahead sees redemptions of E29.8bln: E18.8bln from formerly 3-year BTP, E5.5bln from a formerly 5-year EFSF-bond, E5.0bln from a formerly 10-year RFGB and E0.6bln from a formerly 5-year LithGB. There will also be E5.0bln of coupon payments due: E2.4bln German, E1.0bln Portuguese, E0.8bln Italian and E0.7bln Finnish.
  • This leaves estimated net flows for the week at positive E7.2bln.

For more see the full including an overview of the next 2 weeks of issuance, a recap of this week's issuance and tables showing cash flows over the upcoming weeks, see the PDF here:

EZ240415.pdf

Keep reading...Show less