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This week, T-bill..........>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: This week, T-bill issuance is expected come in at
E8bln, with France, Belgium and Greece scheduled to come to the market.
- SUPPLY: France kicks off issuance on Monday afternoon with tap of 3-month Jul
25, 2018 BTF for between E2.8-E3.2bln, tap of 6-month Sep 26, 2018 BTF for
between E0.7-E1.1bln and issue of a new 12-month Apr 25, 2019 BTF for between
E0.7-E1.1bln. On Wednesday Greece launch a new 26-week Nov 2, 2018 T-bill for
E875mln and Belgium re-open 4-month Sep 13, 2018 T-bill and 6-month Nov 8, 2018
T-bill for a combined amount of between E1.5-E1.9bln.
- REINVESTMENT FLOWS: T-bill redemptions this week are due from France
E6.377bln, Italy E6bln, the Netherlands E3.87bln and Greece for E1.4bln turning
net cash flow negative to the tune of E9.65bln.
** For full details of forthcoming issues, please see Eurozone T-bill auction
calendar

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