Free Trial

W/C 13 June, 2022

EUROZONE T-BILL ISSUANCE

Spain, Belgium, Portugal, the EU and Ireland are all still look to sell bills this week for a further estimated E8.0bln. Germany and France sold bills yesterday for E8.9bln. We look for total issuance at first round operations of E16.9bln, down from E23.3bln last week.

  • Germany kicked off issuance for the week yesterday morning by selling E3bln (E1.767bln allotted) of the 6-month Dec 14, 2022 bubill.
  • Yesterday afternoon, France sold E5.9bln of 13/22/48-week BTFs, the top of the target range: E3.599bln of the new 13-week Sep 14, 2022 BTF, E1.399bln of the 22-week Nov 16, 2022 BTF and E0.899bln of the 48-week May 17, 2023 BTF.
  • Spain will kick off this morning's issuance with E1.5-2.5bln of 3/9-month letras on offer: 3-month Sep 9, 2022 letras and 9-month Mar 10, 2023 letras.
  • Also this morning, Belgium will look to sell 3/11-month TCs for E2.0-2.4bln: an indicative E1.0bln of the Sep 8, 2022 TC and an indicative E1.2bln of the May 11, 2023 TC.
  • Tomorrow morning, Portugal will look to sell E500mln of the 3-month Sep 23, 2022 BT.
  • Also tomorrow, the EU will look to sell up to E1.0bln of the 3-month Sep 9, 2022 EU-bill and up to E1.5bln of the 6-month Dec 9, 2022 EU-bill.
  • Ireland will conclude issuance for the week on Thursday with E750mln of the new Dec 19 2022 IRTB on offer.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.