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This week sees five........>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: This week sees five issuers come to Eurozone bill
markets, selling an estimated E11.9bln, comparable to the E11bln sold last week.
- ISSUANCE: On Monday, the Netherlands will sell 9-month Jan 31, 2020 DTC for
E2.0bln. That afternoon, France sells up to E4.8bln of BTFs: E2.3-2.7bln of
3-month Oct 02, 2019 BTF, E0.5-0.9bln of 6-month Nov 20, 2019 BTF, and
E0.8-1.2bln of 12-month Jun 17, 2020 BTF. On Tuesday, Belgium sells a combined
amount between E1.4-1.8bln of TCs: 3-month Nov 7, 2019 TC, and Jan 16, 2020 TC.
Later Tuesday morning, the ESM sells E2.5bln of 3-month 3-month Oct 10, 2019
bills. On Wednesday, Greece sells E1.25bln of 6-month Jan 3, 2020 bills.
- CASH FLOW: A total of E5.7bln in redemptions (France E3.7bln and Greece E2bln)
will leave net cash flow at positive E6.2bln, versus negative E5.1bln last week.
** For full details, please see MNI Eurozone T-Bill auction calendar.

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