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The week supplies

BUNDS

A tight open for Bund (19 ticks), ahead of a busy week.

  • Curve is flat, while peripherals are mixed, Italy wider by 1bp.
  • Very little on the data front to start the week, so focus turns on speakers, with Lagarde and Holzmann scheduled for the day.
  • SUPPLIES: Sees Belgium 5/10/15yr today
  • Week ahead:
  • Tuesday Germany comes to market to re-pen the 0% Sep-22 Schatz with E5bn on offer.
  • The Netherlands will then issue a new 0% Jan-52 DSL via a Dutch Direct Auction (DDA).
  • Wednesday: Germany auction E3.5bn of the 0% May-35 bund.
  • Thursday: Italy sale of CTZ/BTPEi

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