Free Trial

W/C 20 June, 2022

EUROZONE T-BILL ISSUANCE

Austria and the ESM are due to sell bills today for E3.1bln while Germany, the Netherlands and France sold bills yesterday for a combined E11.5bln. Total issuance at first round operations is estimated at E14.6bln, down from E16.5bln last week.

  • Germany kicked off issuance yesterday, selling E3bln (E2.251bln allotted) of the new 12-month Jun 21, 2023 bubill in a technically uncovered auction.
  • The Netherlands then sold E2.48bln of DTCs against a E2-3bln range: E1.47bln of the 3.5-month Sep 29, 2022 DTC and E1.01bln of the new 7.5-month Jan 30, 2023 DTC.
  • Yesterday afternoon, France sold E5.995bln of 12/21/39/51-week BTFs, the top of the target range: E3.099bln of the 12-week Sep 14, 2022 BTF, E1.298bln of the 21-week Nov 16, 2022 BTF, E0.499bln of the 39-week Mar 22, 2023 BTF and E1.099bln of the new 51-week Jun 14, 2023 BTF.
  • This morning, Austria will look to sell E1bln of each of the 4-month Oct 20, 2022 ATB and the 7-month Jan 26, 2023 ATB.
  • The ESM will then conclude the short week of eurozone issuance later today, with E1.1bln of new 6-month Dec 22, 2022 bills 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.