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T-Bill Supply For W/C Oct 12

EUROZONE T-BILL ISSUANCE
Germany, France, Spain, Belgium, Finland and the ESM will issue bills for the W/C Oct 12. We estimate supply of E15.3bn (from an initial E15.6bn) compared to E20.5bn last week.
  • RECAP: On Monday Germany auctioned the Jan 20, 2021 and Jul 28, 2021 bubills, allotting E2.86bn. France then sold E5.288bn of 3-/6-/12-month BTFs. Spain came to market on Tuesday and sold E0.935bn of 3- and 9-month letras. Belgium then sold E1.845bn of short and long TCs. Finland sold E1.981bn of May 11, 2021 and Aug 10, 2021 bills. The ESM then placed E1.5bn of 12-month bills.
  • ISSUANCE: Ireland will round off the week with a sale of April 19, 2021 bills for E0.75bn.
  • CASH FLOWS: E19.6bn of redemptions will leave net cash flows at E-4.3bn for the week.
** For further details please see MNI Eurozone T-Bill Calendar

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