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EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: Spain comes to the Eurozone T-bill issuance market
Tuesday with re-opening of Feb 15, 2019 Letra and launch of a new 12-month Aug
16, 2019 Letra for an indicative amount of between E4.0-E5.0bln. Issuance is now
estimated to total E13.7bln versus E17.15bln issued last week.
- SUPPLY: Still to come this week on Wednesday Portugal re-open Nov 16, 2018
T-bill and Jul 19, 2019 T-bill for a combined amount of between E0.75-E1.0bln.
- RECAP: To recap issuance so far this week, on Monday Germany launched a new
6-month Bubill for E3.0bln. In the afternoon France allotted E2.697bln in a new
3-month BTF, E1.499bln tap of 6-month BTF and E997mln in tap of a 12-month BTF. 
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France E6.35bln,
Germany E7.0bln, Spain E7.886bln and Italy E6.692bln turning net cash flow
negative to the tune of E11.97bln vs +E5.18bln last week.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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