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W/C March 18, 2024

EUROZONE T-BILL ISSUANCE

Portugal and the EU are due to sell bills this week, whilst Germany, the Netherlands, France, and the ESM have already come to the market this week. We expect issuance to be E18.2bln in first round operations, down from E25.7bln last week.

  • Today, Portugal will look to sell a combined E1.25-1.50bln of the 6-month Sep 20, 2024 BT and the new 12-month Mar 21, 2025 BT.
  • Also today, the EU will look to sell up to E1.5bln of the 3-month Jun 7, 2024 EU-bill and up to E1.5bln of the 6-month Sep 6, 2024 EU-bill.

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