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T-bill issuance is.........>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: T-bill issuance is expected fall sharply to E8.75bln
this week vs E23.768bln last week, with Germany, France and Portugal scheduled
to come to the market.
- SUPPLY: Germany kicks off issuance on Monday with a re-opening of Oct 10, 2018
Bubill for E2.0bln. In the afternoon France tap 3-month Aug 8, 2018 BTF for
E2.4-E2.8bln, issue new 6-month Oct 24, 2018 BTF for E0.9-E1.3bln and tap
12-month Apr 25, 2019 BTF for E0.6-E1.0bln. On Wednesday Portugal re-opens
6-month Nov 16, 2018 T-bill and launch a new 12-month May 17, 2019 Letra for
between E1.5-E1.75bln.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France
E6.814bln, Italy E7.15bln, Germany E2.0bln and Portugal E3.021bln turning net
cash flow negative to the tune of E10.2bln.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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