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Spain and France tapped markets...>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: Spain and France tapped markets Thursday, concluding E19.9bln
of total EGB issuance this week.
- RECAP: Slovakia's Ardal kicked off issuance Monday, selling E82mln of 1.875%
Mar-37 SLOVGB, and E85mln of 1.00% Jun-28 SLOVGB. On Tuesday, Germany sold
E4.0bln of re-opened 0.00% Sep-20 Schatz, and Finland re-opened 0.50% Sep-28
RFGB for E1.0bln. On Wednesday, Germany re-opened 2.50% Jul-44 Bund for E1.5bln.
On Thursday, Spain sold E1.53bln of 0.35% Jul-23 Bono, E1.31bln of 1.40% Jul-28
Obli, E0.63bln of 5.75% Jul-32 Obli, and E1.03bln of 2.90% Oct-46 Obli. Also
Thursday, France sold E2.95bln of 0.00% Feb-21 OAT, E3.29bln of 0.00% Mar-24
OAT, and E1.76bln of 1.00% Nov-25 OAT. Separately, France sold 3 linkers:
E0.65bln 0.00% Mar-21 OATei, E0.956bln 1.85% Jul-27 OATei, and E0.14bln 0.10%
Jul-47 OATei.  
- CASH FLOWS: E28.4bln in redemptions and E2.7bln in coupons will leave cash
flow negative by E11.2bln, vs negative E5.5bln last week.
** For full details, please see MNI Eurozone bond auction calendar.

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