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W/C January 29, 2024

EUROZONE T-BILL ISSUANCE

Germany, France, Belgium and Greece are due to sell bills this week. We expect issuance to be E15.3bln in first round operations, down from E23.2bln last week.

  • This morning, Germany will look to sell E2bln of the 5-month Jun 19, 2024 bubill and E3bln of the new 11-month Dec 11, 2024 bubill.
  • This afternoon, France will look to sell up to E6.7bln of 12/13/25/52-week BTFs: E2.6-3.0bln of the 12-week Apr 24, 2024 BTF, E0-400mln of the 13-week May 2, 2024 BTF, E1.2-1.6bln of the 25-week Jul 24, 2024 BTF and E1.3-1.7bln of the new 52-week Jan 29, 2025 BTF.
  • Tomorrow, Belgium will look to sell E2.6-3.0bln of Short/Medium TCs: An indicative E800mln of the 3-month May 9, 2024 TC and an indicative E2.0bln of the 9-month Nov 7, 2024 TC.
  • Finally on Wednesday, Greece will look to sell E625mln of the new 13-week May 7, 2024 GTB.
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Germany, France, Belgium and Greece are due to sell bills this week. We expect issuance to be E15.3bln in first round operations, down from E23.2bln last week.

  • This morning, Germany will look to sell E2bln of the 5-month Jun 19, 2024 bubill and E3bln of the new 11-month Dec 11, 2024 bubill.
  • This afternoon, France will look to sell up to E6.7bln of 12/13/25/52-week BTFs: E2.6-3.0bln of the 12-week Apr 24, 2024 BTF, E0-400mln of the 13-week May 2, 2024 BTF, E1.2-1.6bln of the 25-week Jul 24, 2024 BTF and E1.3-1.7bln of the new 52-week Jan 29, 2025 BTF.
  • Tomorrow, Belgium will look to sell E2.6-3.0bln of Short/Medium TCs: An indicative E800mln of the 3-month May 9, 2024 TC and an indicative E2.0bln of the 9-month Nov 7, 2024 TC.
  • Finally on Wednesday, Greece will look to sell E625mln of the new 13-week May 7, 2024 GTB.