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The week ahead is busy for debt issuance; we...>

EGBS
EGBS: The week ahead is busy for debt issuance; we count E27bln if there is a
Belgian 15Y syndication.
- Cash flows help. Yesterday a E13.7bln French OAT matured but is paid today.
There are also coupon payments from Italy (E5.7bln). Month-end index extensions
are large in the US at 0.12Y but a closer to average 0.05Y in Europe.
- Germany sells E3.0bln of its 0.5% Feb-28 on Wednesday, bear in mind that 3 of
the past 4 Bund 10Y auctions have been technically uncovered. French and Spanish
issuance is on Thursday. 
- Benoit Coeure makes the welcome address for the first Working Group meeting on
Euro Risk-Free rates today at 1000GMT (he spoke on Friday about how the stock
effects of QE reduced the need for new QE purchases). Draghi speaks to European
Parliament today at 1400GMT. 
- Powell heads to Capitol Hill tomorrow at 1500GMT for the the
'Humphrey-Hawkins' Testimony, with the text of the introductory statement
released 90 minutes before that.
- Labour leader Corbyn makes a key Brexit speech in the UK today. 

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