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This week will see six.....>

EUROZONE T-BILL ISSUANCE
EUROZONE T-BILL ISSUANCE: This week will see six bill auctions, with a total
amount of E14.3bln for sale, up from E12.2bln last week.
- ISSUANCE: On Monday, the Netherlands sells E1.0-2.0bln of new 6-month Sep 30,
2019 DTC. Later Monday, France sells 3-/6-/12-month bills for up to E4.8bln:
E2.2-2.6bln of 3-month Jun 26, 2019 BTF, E0.5-0.9bln of 6-month Aug 28, 2019
BTF, and E0.9-1.3bln of new 12-month Mar 25, 2020. On Tuesday, Spain sells
6-/12-month Letra, details TBA Monday. Later Tuesday morning, Belgium sells
3-month Jul 11, 2019 TC for between E0.6-1.0bln. Afterwards, the ESM comes to
market, selling new 3-month Jul 4, 2019 bills for E2bln. Greece concludes weekly
issuance on Wednesday, selling E0.875bln of new 6-month Oct 4, 2019 bills.
- CASH FLOW: With E11bln in redemptions (Spain E7.7bln, Greece E1.4bln, and the
ESM E2bln), net cash flow will come in at an estimated positive E3.2bln, versus
negative E1.5bln last week.
** For full details, please see MNI Eurozone T-Bill auction calendar

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