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W/C June 10, 2024

EUROZONE T-BILL ISSUANCE

Germany and France already sold bills this week, whilst Spain, Belgium and Italy are all due to sell bills this week. We expect issuance to be E22.2bln in first round operations, down from E24.1bln last week.

  • This morning, Spain will look to sell a combined E1.5-2.5bln of the 3-month Sep 6, 2024 letras and the 9-month Mar 7, 2025 letras.
  • Also this morning, Belgium will look to issue an indicative E1.2bln (E1.0-1.4bln) of the 11-month May 8, 2025 TC.
  • Finally, tomorrow, Italy will come to the market to sell E7.5bln of the new 12-month June 13, 2025 BOT.

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

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