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W/C May 22, 2023

EUROZONE T-BILL ISSUANCE
MNI (London)

Germany, France, Austria and Italy will look to sell bills this week. We look for issuance at first round operations of E16.6bln, down from last week's E18.7bln.

  • Germany will kick off bill issuance for the week this morning with E3bln of the new 6-month Nov 22, 2023 bubill on offer.
  • This afternoon, France will look to sell up to E6.6bln of BTFs. On offer will be: E2.3-2.7bln of the 12-week Aug 16, 2023 BTF, E1.4-1.8bln of the 21-week Oct 18, 2023 BTF and E1.7-2.1bln of the new 51-week May 15, 2024 BTF.
  • Tomorrow Austria will come to the market to reopen E1.5bln of the 3-month Aug 24, 2023 ATB and E1.0bln of the 5-month Oct 27, 2023 ATB.
  • Italy will conclude this week's eurozone bill issuance on Friday, with the new 6-month BOT on offer. Further details including the auction size will be announced on Tuesday.

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