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W/C May 30, 2022

EUROZONE T-BILL ISSUANCE

Germany, France, Greece and the EU are all scheduled to sell bills next week. We look for total issuance from first round operations of E14.7bln, down from E18.6bln this week.

  • Germany will kick off issuance on the Monday with E3bln of each of the 3-month Sep 21, 2022 bubill and the 9-month Mar 22, 2023 bubill on offer.
  • On Monday afternoon, France will look to sell up to E5.6bln of 13/20/50-week BTFs: E2.8-3.2bln of the new 13-week Aug 31, 2022 BTF, E1.0-1.4bln of the 20-week Oct 19, 2022 BTF and E0.6-1.0bln of the 50-week May 17, 2023 BTF.
  • On Wednesday, Greece will look to sell E625mln of the new 26-week Jun 1, 2022 GTB.
  • Also Wednesday, the EU will look to complete bill issuance for the week with up to E1.0bln of the 3-month Sep 9, 2022 EU-bill and up to E1.5bln of the new 6-month Dec 9, 2022 EU-bill on offer.

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