Sovereign bond issuance in the....>

EUROZONE ISSUANCE: Sovereign bond issuance in the Eurozone this week is

scheduled from Austria, Germany and the Netherlands - estimated to come in at

E13.65bln vs E14.684bln sold last week.

- ISSUANCE: Heavy slew of supply is due on Tuesday with the Netherlands due to

re-open DSL 0% Jan-24 for between E1.5bln-E2.5bln. Austria taps 10-year

benchmark 0.75% Feb 2028 RAGB and 30-year RAGB 4.15% Mar 2037 for up to

E1.15bln. Germany 10-year linker Bundei 0.10% Apr 2026 for up to E500mln. On

Wednesday, Germany re-opens 30-year benchmark Bund 2.5% Aug-46 for up to

E1.5bln. Italy conducts its medium-long auctions on Thursday - expected to be a

new 3-year Apr 2021 BTP, tap of the 7-year 1.45% May 2025 BTP, 15-year 2.45% Sep

2033 BTP and 30-year benchmark 3.45% Mar 2048 BTP for up to E8.5bln.

- CASH FLOWS: Minor coupons from Germany for E0.1bln and redemption from Germany

for E17bln - turns net cash negative turns E3.45bln. 

** 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: https://tinyurl.com/h7trj4x