-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI EGB Issuance, Redemption and Cash Flow Matrix - W/C Oct 24
- The EU, Belgium, Germany and Italy will all look to issue bonds in the upcoming week. We look for estimated gross nominal issuance of E22.0bln from announced operations, down from this week’s E26.6bln.
- The upcoming week will see redemptions totalling E37.1bln with E35.4bln being a formerly 10-year OAT and smaller redemptions from Greece, Slovenia and Latvia.
- Coupon payments will be E10.0bln (of which E9.1bln are Spanish).
- With estimated gross issuance of E22.0bln, MNI estimates net nominal issuance of negative E25.1bln in the week ahead, down from this week’s positive E5.2bln.
Week Ahead Supply:
- The EU will kick off issuance for the week on Monday with up to E2.5bln of the 4-year 0% Jul-26 EU NGEU (ISIN: EU000A3KTGV8) and up to E1.5bln of the 15-year 0.40% Feb-37 Green EU (ISIN: EU000A3K4C42) on offer.
- Also on Monday, Belgium will look to sell 10/30-year OLOs for E1.7-2.2bln. On offer will be the 0.35% Jun-32 OLO (ISIN: BE0000354630) and the 1.40% Jul-53 OLO (ISIN: BE0000355645).
- On Tuesday, Germany will look to sell E4bln of the 1.30% Oct-27 Bobl (ISIN: DE0001141869).
- Italy will come to the market on Wednesday with BTP Short Term /BTPeis on offer. We expect a reopening of the 1.75% May-24 BTP Short (ISIN: IT0005499311). We have less conviction on the BTPei but we suspect it could be either the 0.10% May-33 BTPei (ISIN: IT0005482994) or the 2.55% Sep-41 BTPei (ISIN: IT0004545890).
- On Friday, Italy will return to the market to sell 5/10-year BTPs alongside the CCTeu. We expect a reopening of the 2.65% Dec-27 BTP (ISIN: IT0005500068), a reopening of the 2.50% Dec-32 BTP (ISIN: IT0005494239) and a reopening of the Oct-30 CCTeu. There is an outside chance that Italy chooses to issue a new 10-year May-33 BTP rather than reopening the 2.50% Dec-32 BTP, but we think that is more likely to be launched in November.
- Other potential upcoming syndication: Greece (possibly FRN).
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.