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T-Bill Supply for W/C Oct 5

EUROZONE T-BILL ISSUANCE
France, Italy, Spain, the Netherlands and Belgium will issue T-bills in the W/C Oct 5. We estimate supply of E20.4bn (from an initial estimate of E21.7bn) compared to E11.5bn the previous week.
  • RECAP: The Netherlands got the ball rolling with a sale of 4- and 10-month DTCs for E2.2bn on Monday. Germany allotted E1.43bn of 6-month bubills. France concluded Monday's issuance with a sale of 3-/6-/12-month BTFs for E5.68bn. Spain sold E3.31bn of 6- and 12-month letras on Tuesday. Belgium then sold E0.80bn of Jan 14, 2021 TCs..
  • ISSUANCE: Italy will conclude bill issuance for the week with a sale of 12-month BOTs on Friday with issue volume TBA.
  • CASH FLOWS: E28.6bn in redemptions will leave net cash flows at E-8.2bn for the week.
** For further details please MNI Eurozone T-Bill Calendar

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