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W/C 28 November, 2022

EUROZONE T-BILL ISSUANCE

Germany, France and Greece will all look to sell bills next week. We look for issuance at first round auctions of E13.9bln, down from E24.5bln this week.

  • Germany will kick off issuance on Monday morning with E5bln of the 3-month Mar 22, 2023 bubill and E2bln of the 9-month Sep 20, 2023 bubill on offer.
  • On Monday afternoon, France will look to sell up to E6.3bln of 13/22/48-week BTFs: E3.1-3.5bln of the new 13-week Mar 1, 2023 BTF, E0.9-1.3bln of the 22-week May 4, 2023 BTF and E1.1-1.5bln of the 48-week Nov 1, 2023 BTF.
  • On Wednesday, Greece will look to sell E625mln of the 26-week Jun 2, 2023 GTB.

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