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W/C Feb 20, 2023

EUROZONE T-BILL ISSUANCE
MNI (London)

Austria, the ESM, Greece and Italy all still look to issue bills this week while Germany, the Netherlands and France came to the market yesterday. We look for issuance of E22.3bln at first round operations, up from E15.7bln last week.

  • This morning, Austria will look to sell E1bln of each of the 3-month May 25, 2023 ATB and 5-month Jul 27, 2023 ATB.
  • Later today, the ESM will come to the market with E1.1bln of the new 6-month Aug 18, 2023 bills on offer.
  • Tomorrow, Greece will look to sell E625mln of the new 26-week Aug 25, 2023 GTB.
  • On Thursday, Italy will come to the market to hold its a 5/9-month BOT auction. It will reopen the 5-month Jul 31, 2023 BOT for E3bln alongside the 9-month Dec 14, 2023 BOT for E2bln.

For more on future auctions see the full MNI Eurozone/UK T-bill auction calendar.

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