There was E17.25bln of issuance...>

EUROZONE ISSUANCE: There was E17.25bln of issuance in the past week. Expect

something similar in the coming week although duration is higher. MNI expects a

total of E17.9bln 

RECAP: On Tuesday, Austria sold E0.805bln of RAGB 0.5% 2027 and E0.575nln of

RAGB 4.15% 2037. 

ISSUANCE: Today, Germany sells E3bln of Obl 0% Oct-22. On Thursday, Spain sells

E3.5-4.5bln of SPGB 0.4% Apr-22, SPGB 1.45% Oct-27, SPGB 2.35% Jul-33 nominals

and E0.25-0.75bln SPGBei Nov-27 linker. France follows close on its heels with

E8-9bln OAT 1% May-27, OAT 1.25% May-36, OAT4.5% Apr-41 and OAT 4% Apr-60.

CASH FLOW: There are no redemptions until a big chunk appears on Sep 15. No

large coupons are due, just 1bln from Germany. Thus, upcoming supply has little

support and net supply is E16.9bln.

**For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone

Net Cash Flow Matrix: http://tinyurl.com/gkrtmav and MNI Eurozone Issuance

Profile: http://tinyurl.com/h7trj4x