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MNI EGB Issuance, Redemption and Cash Flow Matrix – W/C 29 July, 2024

Italy, Germany, Spain, France and Belgium all look to hold conventional auctions in the week ahead. We pencil in estimated gross issuance for the week at E29.7bln up from E18.9bln this week.

  • Italy, Germany, Spain, France and Belgium all look to hold conventional auctions in the week ahead.
  • We pencil in estimated gross issuance for the week at E29.7bln up from E18.9bln this week.
  • The week ahead sees three redemptions totaling E21.1bln: most notably E17.7bln from a formerly 5-year Spanish Bono and E3.25bln of a formerly 20-year Italian ISPA High Speed Railway Funding Note.
  • Coupon payments for the week are E15.2bln, of which E10.1bln are Spanish and E4.9bln are Italian.
  • This leaves estimated net flows for the week at negative E6.6bln, versus negative E7.3bln this week.
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:

EZ240729.pdf


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  • Italy, Germany, Spain, France and Belgium all look to hold conventional auctions in the week ahead.
  • We pencil in estimated gross issuance for the week at E29.7bln up from E18.9bln this week.
  • The week ahead sees three redemptions totaling E21.1bln: most notably E17.7bln from a formerly 5-year Spanish Bono and E3.25bln of a formerly 20-year Italian ISPA High Speed Railway Funding Note.
  • Coupon payments for the week are E15.2bln, of which E10.1bln are Spanish and E4.9bln are Italian.
  • This leaves estimated net flows for the week at negative E6.6bln, versus negative E7.3bln this week.
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:

EZ240729.pdf


Keep reading...Show less