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MNI EGB Issuance, Redemption and Cash Flow Matrix - W/C July 3

Austria, Germany, Spain and France look to issue in the week ahead. We pencil in gross nominal issuance of E21.2bln, down up from E23.5bln this week.

For more see the full PDF here:

EZ230703.pdf

Week Ahead Supply

  • Austria will kick off issuance for the week on Tuesday with E1.495bln of 10/30-year RAGBs on offer: the 10-year 2.90% Feb-33 RAGB (ISIN: AT0000A324S8) and the 30-year 3.15% Oct-53 RAGB (ISIN: AT0000A33SK7).
  • Also Tuesday, Germany will look to sell E500mln of the 0.10% Apr-33 ILB (ISIN: DE0001030583).
  • Germany will return to the market on Wednesday to hold a E1bln auction for the 2.30% Feb-33 Green Bund (ISIN: DE000BU3Z005).
  • On Thursday, Spain will hold an auction of 5/10/50-year Bonos/Oblis and the 5-year ObliEi: the 0.80% Jul-29 Obli (ISIN: ES0000012K53), the 3.55% Oct-33 Obli (ISIN: ES0000012L78), the 1.45% Oct-71 Obli (ISIN: ES0000012H58) and the 0.65% Nov-27 Obli-Ei (ISIN: ES00000128S2). This will be the first reopening of the 10-year the 3.55% Oct-33 Obli since its syndicated launch. The auction size will be announced on Monday.
  • Also on Thursday, France will look to hold a LT OAT auction for E10.5-12.0bln of on-the-run 10/20/30-year OATs: the 10-year 3.00% May-33 OAT (ISIN: FR001400H7V7), the 20-year 2.50% May-43 OAT (ISIN: FR001400CMX2) and the 30-year 3.00% May-54 OAT (ISIN: FR001400FTH3).
  • We would also expect to receive quarterly issuance plans Ireland.

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