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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 E11.9bln in
bill issuance, down from E17.4bln last week.
ISSUANCE: The Netherlands begin the week`s issuance on Monday, selling
E1.0-2.0bln of 6-month Apr 30, 2019 DTC. Later on Monday, France sells
E2.6-3.0bln of 3-month Feb 20, 2019 BTF; E0.7-1.1bln 6-month Apr 10, 2019 BTF;
and E0.6-1.0bln 12-month Jun 11, 2019 BTF. On Tuesday, Spain sells 3-month Feb
15, 2019 Letra and 9-month Aug 16, 2019 Letra, total amount TBA on Nov 19. Also
Tuesday, the ESM sells E2.0bln of 6-month May 23, 2019 bills. Finally, on
Wendesday, Portugal sells 6-month May 17, 2019 T-bills and 12-month Nov 22, 2019
T-bills for a combined E1.25-1.50bln.
- CASH FLOWS: With E5.0bln in bill redemptions scheduled, net cash flow will
come in at an estimated positive E6.9bln this week, versus negative E2.8bln last
week.
** For full details of forthcoming issues, see Eurozone T-bill auction calendar

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