This week's scheduled gross.......>

EUROZONE ISSUANCE: This week's scheduled gross issuance is big. MNI sees E32bln,

marking it as the 3rd largest nominal supply week of the year.

ISSUANCE: Italy starts on Monday with BTP 0.2% Oct-20, BTP 1.45% Nov-24 & BTP

2.45% Sep-33 and also begins selling a BTP Italia, which concludes on Wednesday.

On Tuesday, the Dutch sell E2-3bln DSL 0.75% Jul-27 and Germany E5bln of Schatz

0% Dec-19. On Wednesday, Germany follows with DBR 0.5% Aug-27 for E3bln and the

BTP Italia 0.25% Nov-23 should conclude with bids from institutional investors.

Spain sells SPGB 0.05% Jan-21, 0.45% Oct-22, 1.45% Oct-27 and Jul-66 on Thursday

and France auctions E4-5bln of OAT Apr-20, OAT Mar-23, OAT May-25 alongside

E1.5-2.0bln of OATei Mar-21, OATei Jul-24 & OATei Jul-47.

CASH FLOWS: There is E23bln of Italian redemptions on Monday and small coupons.

Net supply is around E8.3bln. 

**For full details, please see MNI Eurozone bond auction calendar, MNI Eurozone

Net Cash Flow Matrix: http://tinyurl.com/gkrtmav and MNI Eurozone Issuance

Profile: https://tinyurl.com/ybnzlygd