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W/C July 25, 2022

EUROZONE T-BILL ISSUANCE

Germany, France, Austria, Greece and Italy have issued bills this week, raising E20.9bln through first round operations, up from the E14.4bln sold last week.

  • Germany kicked off issuance for the week Monday morning selling E3bln of each of the 5-month Dec 14, 2022 bubill (E2.639bln allotted) and the 11-month Jun 21, 2023 bubill (E2.500bln allotted).
  • Monday afternoon, France sold E6.292bln of 13/20/50-week BTFs, the top of the target range: E3.196bln of the new 13-week Oct 26, 2022 BTF, E1.297bln of the 20-week Dec 14, 2022 BTF and E1.799bln of the 50-week Jul 12, 2023 BTF
  • On Tuesday, Austria sold E1bln of each of the 3-month Oct 20, 2022 ATB (E722mln allotted) and the new 9-month Apr 27, 2023 ATB (E668mln allotted).
  • On Wednesday, Italy sold E6bln of the new 6-month Jan 31, 2023 BOT.
  • Also Wednesday, Greece came to the market to issue E625mln of the new 26-week Jan 27, 2023 GTB.

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

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