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

EUROZONE T-BILL ISSUANCE: This week will see an estimated total of E13.5bln in

bill issuance, down from E17.4bln last week.

RECAP: Netherlands began the week`s issuance on Monday, selling E1.2bln of

6-month Apr 30, 2019 DTCs.

- Later on Monday, France sold E2.995bln of 3-month Feb 20, 2019 BTFs; E1.096bln

of 6-month Apr 10, 2019 BTFs; and E0.992bln of 12-month Jun 11, 2019 BTFs.

- On Tuesday, Spain sold E0.54bln of 3-month Feb 15, 2019 Letras along with

E2.42bln of 9-month Aug 16, 2019 Letras.

- Later on Tuesday, the ESM sold E2.0bln of 6-month May 23, 2019 ESM T-bill.

ISSUANCE: Finally, on Wednesday, Portugal sells 6-month May 17, 2019 T-bills and

12-month Nov 22, 2019 T-bills for a combined E1.25-1.50bln.

- With E5.0bln in bill redemptions scheduled, net cash flow will come in at an

estimated positive E8.5bln this week, versus negative E2.8bln last week.

** For full details of forthcoming issues, see Eurozone T-bill auction calendar.