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This week sees an..........>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: This week sees an estimated total of E13.7bln in bill
issuance, marginally up from E12.3bln last week.
- RECAP: Germany kicked off T-bill issuance on Monday, allotting E1.7bln of the
3-month Feb 13, 2019 Bubills (total sale E2.0bln). On Monday afternoon France
came to the market, selling E5.2bln in BTFs. E3.3bln of the 3-month Feb 20, 2019
BTFs, E1.1bln of the 6-month May 9, 2019 BTFs and E0.8bln of the 12-month Nov 6,
2019 BTFs.
- ISSUANCE: Italy wrap up eurozone weekly T-bill issuance on Wednesday tapping
the market for E6.5bln of 6-month May 31, 2019 BOT.
- CASH FLOWS: With E16.5bln in bill redemptions scheduled, estimated net cash
flow comes in at negative E2.8bln this week, versus positive E7.25bln last week.
** For full details of forthcoming issues, see Eurozone T-bill auction calendar.

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