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W/C June 17, 2024

EUROZONE T-BILL ISSUANCE

Portugal, and the EU are all due to sell bills today while Germany, the Netherlands, France and the ESM have all come to the market already this week. We expect issuance to be E17.9bln in first round operations, down from E22.2bln last week.

  • This morning, Portugal will look to issue a combined E1.25-1.50bln of the 3-month Sep 20, 2024 BT and 11-month May 16, 2025 BT.
  • Finally today, the EU will look to sell up to E1.5bln of the 3-month Sep 6, 2024 EU-bill and up to E1.5bln of the 6-month Dec 6, 2024 EU-bill.

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

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