Free Trial

Spain and the ESM come.....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Spain and the ESM come to the Eurozone T-bill issuance
market Tuesday. Issuance is now estimated to total E13.5bln versus E18.882bln
issued last week.
- SUPPLY: Spain is scheduled up first with re-opening of 3-month May 11, 2018
Letra and 9-month Feb 15, 2019 Letra for between E1.0-E2.0bln. The ESM then
issue new 6-month Aug 23, 2018 Bill for E2bln. Still to come this week on
Wednesday Portugal re-open 3-month May 18, 2018 T-bill and 11-month Jan 18, 2018
T-bill for a combined amount of between E1.0-E1.25bln.
- RECAP: To recap issuance so far this week, on Monday the Netherlands re-opened
2.5-month DTC for E1.28bln and 5.5-month DTC for E1.17bln. In the afternoon
France allotted E3.295bln in tap of 3-month BTF, E1.593bln of a new 6-month BTF
and E1.495bln tap of a 12-month BTF. 
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France E7.516bln
and the ESM E1.484bln, turning net cash flow positive to the tune of E4.6bln vs
-E4.3bln last week.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.