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Portugal comes to the......>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Portugal comes to the Eurozone T-bill issuance market
Wednesday with re-opening of 3-month Sep 21, 2018 T-bill and 11-month May 17,
2019 T-bill for a combined amount of between E1.0-E1.25bln. Issuance is now
estimated to be E13.2bln versus E22.97bln issued last week.
- RECAP: To recap issuance so far this week, on Monday the Netherlands allotted
E1.39bln in 2.5-month DTC and E1.52bln 5.5-month DTC. In the afternoon France
allotted E2.996bln tap of a 3-month BTF, E880mln tap of a 6-month BTF and
E750mln tap of a 12-month BTF. On Tuesday Spain allotted E470mln in 3-month
Letra and E1.95bln in 9-month Letra. While the ESM allotted E1.981bln in 6-month
Bills.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France E9.282bln
and Ireland E500mln turning net cash flow positive to the tune of E3.4bln vs
-E1.5bln last week.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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