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

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: This week sees an estimated total of E16.5bln in bill
issuance, down slightly from E17.5bln last week. Belgium, Italy, Greece, Ireland
and Spain are yet to come 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.
- ISSUANCE: On Tuesday, Spain sell an estimated combined E2.5bln of the 3-month
Mar 8, 2019 and 9-month Sep 13, 2019 Letras. Also Tuesday, Belgium come to
market selling a combined E0.8-1.2bln in 12-month Nov 7, 2019 TCs. On Wednesday,
Italy will come to market selling 12-month Dec 13, 2019 BOT for E5.5bln. Also on
Wednesday, Greece sell E0.625bln of 12-month Dec 13, 2019 bills. On Thursday,
Ireland conclude 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 E3.3bln this week, versus negative E1.0bln last week.
** For full details of forthcoming issues, see Eurozone T-bill auction calendar

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