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W/C Oct 3, 2022

EUROZONE T-BILL ISSUANCE

Spain, Belgium, the ESM, Greece and the EU are all still due to issue bills this week while the Netherlands and France sold bills yesterday. We look for total issuance from first round operations of E18.9bln, up from last week's E17.6bln.

  • Spain will kick off this morning's issuance with E4-5bln of 6/12-month letras on offer: 6-month Apr 14, 2023 letras and new 12-month Oct 6, 2023 letras.
  • Belgium will then look to sell E0.8-1.2bln of the 3-month Jan 12, 2023 TC.
  • The ESM conclude today's issuance with E1.5bln of new 3-month Jan 5, 2023 bills on offer.

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Spain, Belgium, the ESM, Greece and the EU are all still due to issue bills this week while the Netherlands and France sold bills yesterday. We look for total issuance from first round operations of E18.9bln, up from last week's E17.6bln.

  • Spain will kick off this morning's issuance with E4-5bln of 6/12-month letras on offer: 6-month Apr 14, 2023 letras and new 12-month Oct 6, 2023 letras.
  • Belgium will then look to sell E0.8-1.2bln of the 3-month Jan 12, 2023 TC.
  • The ESM conclude today's issuance with E1.5bln of new 3-month Jan 5, 2023 bills on offer.