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EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: This week saw an estimated total of E15.1bln in bill
issuance, down slightly from E17.5bln last week. The Netherlands, France, Spain,
Belgium, Italy, Greece, and Ireland all came to market. 
- RECAP: The Netherlands on Monday sold E1.42bln of 3-month Feb 28, 2019 DTC and
E1.41bln of 6-month May 31, 2019 DTC. Also Monday, France sold E2.6bln of the
3-month Mar 6, 2019 BTF and E1.0bln of 6-month May 8, 2019 BTF. On Tuesday,
Spain sold E0.26bln of 3-month Mar 8, 2019 Letra and E0.74bln of 9-month Sep 13,
2019 Letra. Also Tuesday, Belgium sold E1.18bln in 12-month Nov 7, 2019 TCs. On
Wednesday, Italy came to market selling 12-month Dec 13, 2019 BOT for E5.5bln.
Also on Wednesday, Greece sold E0.625bln of 12-month Dec 13, 2019 bills. On
Thursday, Ireland concluded the week of Euro bill issuance, selling E0.5bln of
12-month Dec 16, 2019 bills. 
- CASH FLOWS: With E13.2bln in bill redemptions scheduled, estimated net cash
flow comes in at positive E2.0bln this week, versus negative E1.0bln last week. 
** For full details of forthcoming issues, see Eurozone T-bill auction calendar

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