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

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: T-bill issuance is expected to tick lower to E12.5bln
this week vs E13.14bln last week, with German, France and Italy scheduled to
come to the market.
- SUPPLY: German is due up first on Monday with re-opening of its Oct 10, 2018
Bubill for up to E2.0bln. In the afternoon France tap 3-month Oct 17, 2018 BTF
for E2.5-E2.9bln, tap 6-month Dec 19, 2018 BTF for E0.5-E0.9bln and issue new
12-month Jul 17, 2019 BTF for E0.6-E1.0bln. Italy then comes to the Market on
Friday with a new 6-month Jan 31, 2019 BOT with confirmation of the size
announced on Tuesday but expected to be for up to E6bln.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France E7.191bln
only, turning net cash flow positive to the tune of E5.6bln vs +E4.57bln last
week.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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