Free Trial

W/C Oct 10, 2022


Germany, France, Spain, Belgium, Finland and Italy are all due to sell bills this week. We look for issuance at first round operations of E25.8bln.

  • Germany will kick off the first of its larger bubill auctions for this quarter this morning with up to E8bln of 3/9-month bubills on offer: E5bln of the 3-month Jan 18, 2023 bubill and E3bln of the 9-month Jul 19, 2023 bubill on offer.
  • This afternoon, France will then look to sell up to E6.2bln of 12/21/51-week BTFs: E2.0-2.4bln of the 12-week Jan 4, 2023 BTF, E1.4-1.8bln of the 21-week Mar 8, 2023 BTF and E1.6-2.0bln of the new 51-week Oct 4, 2023 BTF.
  • Spain will kick off Tuesday's issuance with 3-month Jan 13, 2023 letras and 9-month Jul 7, 2023 letras on offer. Auction sizes will be confirmed on Monday.
  • Belgium will then look to sell E2.0-2.4bln 3/11-month TCs: an indicative E1.0bln of the 3-month Jan 12, 2023 TC and an indicative E1.2bln of the 11-month Sep 14, 2023 TC.
  • Finland will conclude Tuesday's issuance with up to E1bln of each of the 7-month May 12, 2023 RFTB and the new 10-month Aug 14, 2023 RFTB on offer.
  • Italy will draw Eurozone bill issuance for the week to a close on Wednesday with the new 12-month Oct 13, 2023 BOT on offer. The auction size will be confirmed later today but we pencil in E5.5bln.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.