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Sovereign Bond issuance has.......>

EUROZONE ISSUANCE: Sovereign Bond issuance has been completed this week and
totals E13.9bln.
- RECAP: To recap issuance for this week, on Tuesday Austria tapped 0.75% Feb-28
RAGB and 4.15% Jan-37 RAGB for E550mln and E630mln respectively. On Thursday
Spain allotted E1.565bln 0.05% Jan-21 Bono, E0.960bln 1.95% Jul-30 Obli,
E1.307bln 4.70% Jul-41 Obli and E0.923bln of 0.65% Nov-27 Bonoei. While France
allotted E4.248bln of 0.75% Nov-28 OAT, E2.405bln of 1.50% May-31 OAT and
E1.345bln of 1.25% May-34 OAT
- CASH FLOWS: There will be E21.0bn in redemption payments from Germany and
E8.79bln in coupon payments, of which E8.04bn will be from Germany leaving next
cash flow negative to the tune of E15.9bln.

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