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

EUROZONE T-BILL ISSUANCE: This week sees an estimated total of E17.8bln in bill

issuance, up from E13.7bln last week. Germany, the Netherlands, France, the ESM,

Greece and Spain are all coming to the market.

- ISSUANCE: On Monday Germany sells E2.0bln of the 6-month Jun 19, 2019 Bubill.

Also Monday, the Netherlands come to market selling 2-month Jan 31, 2019 and

6-month May 31, 2019 DTCs, for E1.0-2.0bln each. Later Monday, France sells the

3-month Mar 6, 2019 BTF for E2.4-2.8bln, 6-month May 8, 2019 BTF for E0.6-1.0bln

and 12-month Nov 6, 2019 BTF for E0.4-0.8bln. On Tuesday, Spain sells 6-month

Jun 14, 2019 and 12-month Dec 6, 2019 Letra. Tesoro Publico will announce the

issuance goal on Monday. Later Tuesday, the ESM sells E2.0bln of new 3-month Mar

7, 2019 bills.  On Wednesday, Greece completes weekly T-bill issuance in the

eurozone, selling 26-week June 7, 2019 bills for E1.25bln.

- CASH FLOWS: With E18.6bln in bill redemptions scheduled, estimated net cash

flow comes in at negative E0.8bln this week, versus negative E2.8bln last week. 

** For full details of forthcoming issues, see Eurozone T-bill auction calendar.