Free Trial

W/C Sept 19, 2022

EUROZONE T-BILL ISSUANCE

Germany, the Netherlands, France, Austria, the ESM, Portugal and the EU will all look to sell bills next week. We look for issuance at first round operations of E16.5bln, marginally higher than this week's E16.0bln.

  • Germany will come the market on Monday morning to issue E3bln of the new 12-month Sep 20, 2023 bubill.
  • The Netherlands will look to sell E1.0-1.5bln of each of the 2-month Nov 23, 2022 DTC and the 5-month Feb 27, 2023 DTC.
  • France will conclude Monday's issuance with up to E5.3bln of 11/20/50-week BTFs on offer: E2.3-2.7bln of the 11-week Dec 7, 2022 BTF, E1.1-1.5bln of the 20-week Feb 8, 2023 BTF and E0.7-1.1bln of the 50-week Sep 6, 2023 BTF.
  • Austria will kick off Tuesday's issuance with up to E1bln of each of the 4-month Jan 26, 2023 ATB and the 7-month Apr 27, 2023 ATB on offer.
  • Also Tuesday, the ESM will look to sell up to E1.1bln of new 6-month Mar 23, 2023 bills.
  • On Wednesday, Portugal will look to sell a combined E500-750mln of the 6-month Mar 17, 2023 BT and the new 12-month Sep 22, 2023 BT. The Portuguese auction is yet to be confirmed.
  • Concluding bill issuance for the week on Wednesday, the EU will look to sell up to E1bln of each of the 3-month Dec 9, 2022 EU-bill and the 6-month Mar 3, 2023 EU-bill.

To read the full story

Close

Why MNI

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.