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W/C 27 June, 2022

EUROZONE T-BILL ISSUANCE

Germany, France and Greece are all due to sell bills next week, we estimate for a combined E12.3bln at first round operations down from E14.5bln this week.

  • Germany will kick off issuance on Monday with E3bln of each of the 5-month Nov 23, 2022 bubill and the 11-month May 17, 2023 bubill on offer.
  • Monday afternoon will see France look to sell up to E5.7bln of 13/20/46/50-week BTFs: E2.6-3.0bln of the new 13-week Sep 28, 2022 BTF, E0.6-1.0bln of the 20-week Nov 16, 2022 BTF, E0.4-0.8bln of the 46-week May 17, 2023 BTF and E0.5-0.9bln of the 50-week Jun 14, 2023 BTF.
  • Greece will conclude issuance for the quarter on Wednesday, looking to sell E625mln of the new 26-week Dec 30, 2022 GTB.
For more on future auctions see the MNI Eurozone/UK T-bill auction calendar.
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Germany, France and Greece are all due to sell bills next week, we estimate for a combined E12.3bln at first round operations down from E14.5bln this week.

  • Germany will kick off issuance on Monday with E3bln of each of the 5-month Nov 23, 2022 bubill and the 11-month May 17, 2023 bubill on offer.
  • Monday afternoon will see France look to sell up to E5.7bln of 13/20/46/50-week BTFs: E2.6-3.0bln of the new 13-week Sep 28, 2022 BTF, E0.6-1.0bln of the 20-week Nov 16, 2022 BTF, E0.4-0.8bln of the 46-week May 17, 2023 BTF and E0.5-0.9bln of the 50-week Jun 14, 2023 BTF.
  • Greece will conclude issuance for the quarter on Wednesday, looking to sell E625mln of the new 26-week Dec 30, 2022 GTB.
For more on future auctions see the MNI Eurozone/UK T-bill auction calendar.