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Scheduled gross issuance is.......>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Scheduled gross issuance is E22.0bln, about double the
E10.5bln from this week and slightly above the E19.5bln weekly average. 
Issuance: On Monday, Italy begins with E3.0-3.5bln of a new CCTeu Apr-25,
E2.0-2.5bln of BTP 0.9% Aug-22 and E2.0-2.5bln of BTP 2.05% Aug-27. On Thursday,
France sells E7.5-8.5bln of OAT 0.75% May-28, OAT 1.5% May-31 and 2.0% May-48
and Spain sells of SPGB 0.45% Oct-22, SPGB 1.45% Oct-27, SPGB 4.9% Jul-40 and
the SPGBei 0.65% Nov-27. There are no obvious candidates for a syndicated issue
and the Catalan problems may defect issuance away from the coming week anyway.
FLOWS: Cash inflows are big and in the periphery. On Tuesday, there is E16.8bln
from Spain and E15.6bln from Italy on Wednesday and there are E11.9bln of coupon
payments all equating to E44.3bln. Net supply is minus E22.3bln.
**For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone
Net Cash Flow Matrix: http://tinyurl.com/gkrtmav and MNI Eurozone Issuance
Profile: http://tinyurl.com/h7trj4x

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