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This week will see an......>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: This week will see an estimated total of E17.4bln in
bill issuance, the highest in five weeks, and up from E12.9bln last week.
Germany, Italy, France, and Spain all come to market.
- RECAP: Italy kicked off issuance on Monday, selling E5.5bln of 12-month Nov
14, 2019 BOTs. Also Monday, Germany allotted E1.86bln of 6-month April 10, 2019
Bubill (sold total E2.0bln). Later on Monday, France sold E2.95bln of 3-month
Feb 6, 2019 BTF; E1.325bln of 6-month Apr 10, 2019 BTF, and E1.1bln of 12-month
Nov 6, 2019 BTF.
- ISSUANCE: On Tuesday, Spain concludes issuance for the week, selling 3-month
Feb 15, 2019 Letra and 12-month Nov 15, 2019 Letra, total amount between
E4-5bln.
- CASH FLOWS: With E20.1bln in bill redemptions scheduled, net cash flow will
come in at an estimated negative E2.8bln this week, versus negative E0.4bln last
week.
** For full details of forthcoming issues, see Eurozone T-bill auction calendar

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