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EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Portugal comes to the Eurozone T-bill issuance market
Thursday with re-open 6-month Sep 21, 2018 and launch a new 12-month Mar 22,
2019 T-bill for a combined amount of between E1.25-E1.5bln. Issuance is now
estimated to be E12.543bln versus E18.254bln issued last week.
- RECAP: To recap issuance so far this week, the Netherlands reopened 2.5-month
DTC for E1.16bln and 5.5-month DTC for E1.13bln. In the afternoon France
allotted E3.896bln tap of a 3-month BTF, E1.597bln of a new 6-month BTF and
E1.295bln tap of a 12-month BTF. On Tuesday the ESM allotted E1.965bln in a new
6-month Bill.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France
E3.565bln, Ireland E0.5bln and ESM E1.5bln, turning net cash flow positive to
the tune of E7bln vs -E0.2bln last week.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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