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T-BILL SUPPLY ESTIMATED AT E7.1BN FOR W/B AUGUST 31

EUROZONE T-BILL ISSUANCE

France and Belgium are the only scheduled issuers of T-bills for the week commencing August 31. We estimate total supply of E7.1bn compared to E23.1bn this week.

  • ISSUANCE: France will be the first to come to market with a sale of 3-/6-/12-month BTFs on Monday for E4.3-5.5bn. Belgium will then hold an auction on Tuesday to sell the Jan 14, 2021 and Mar 11, 2021 TCs for a combined E1.4-1.8bn.
  • CASH FLOWS: E15.6n in redemptions will leave net cash flows at E-8.5bn for the week.
  • For further details please see MNI Eurozone T-Bill Calendar

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