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MNI EGB Issuance, Redemption and Cash Flow Matrix - W/C Jul 19

The upcoming week sees Germany as the only country to issue bonds with E5.5bln on offer. This sees a sharp drop from this week's E56.8bln of gross nominal issuance as we enter the summer season.

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The upcoming week sees Germany as the only country to issue bonds with E5.5bln on offer. This sees a sharp drop from this week's E56.8bln of gross nominal issuance as we enter the summer season.

  • Germany will look to sell E4bln of the 7-year 0% Nov-28 Bund on Tuesday.
  • Germany will then return to the market Wednesday to sell E1.5bln of the 30-year 1.25% Aug-38 Bund.

NET NOMINAL FLOWS: There are no redemptions next week and just E0.5bln of coupon payments. This leaves net nominal issuance estimated at E5.0bln for the week, versus this week's E36.2bln.

EZ190721.pdf