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EUROZONE T-BILL ISSUANCE: W/C February 24, 2025

EUROZONE T-BILL ISSUANCE
EurozoneBulletMarketsFixed Income Bullets

Germany, France, Austria, and Italy are all due to sell bills next week. We expect issuance to be E19.3bln in first round operations, up from E19.0bln this week.

  • On Monday morning, Germany will sell E2bln of the 3-month May 14, 2025 bubill and E2bln of the 9-month Nov 19, 2025 bubill.
  • On Monday afternoon, France will come to the market to sell up to a combined E7.8bln of 13/26/28/52-week BTFs: E2.8-3.2bln of the 13-week May 28, 2025 BTF, E1.7-2.1bln of the 26-week Aug 27, 2025 BTF, E0.1-0.5bln of the 28-week Sep 10, 2025 BTF and E1.6-2.0bln of the new 52-week Feb 25, 2026 BTF.
  • On Tuesday, Austria will issue E1bln of the 2-month Apr 24, 2025 ATB and E2bln of the 3-month May 30, 2025 ATB.
  • Finally on Wednesday, Italy will conclude issuance for the week with a BOT auction. Details will be announced later today.

For more on future auctions see the full MNI Eurozone/UK T-bill auction calendar here.

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Germany, France, Austria, and Italy are all due to sell bills next week. We expect issuance to be E19.3bln in first round operations, up from E19.0bln this week.

  • On Monday morning, Germany will sell E2bln of the 3-month May 14, 2025 bubill and E2bln of the 9-month Nov 19, 2025 bubill.
  • On Monday afternoon, France will come to the market to sell up to a combined E7.8bln of 13/26/28/52-week BTFs: E2.8-3.2bln of the 13-week May 28, 2025 BTF, E1.7-2.1bln of the 26-week Aug 27, 2025 BTF, E0.1-0.5bln of the 28-week Sep 10, 2025 BTF and E1.6-2.0bln of the new 52-week Feb 25, 2026 BTF.
  • On Tuesday, Austria will issue E1bln of the 2-month Apr 24, 2025 ATB and E2bln of the 3-month May 30, 2025 ATB.
  • Finally on Wednesday, Italy will conclude issuance for the week with a BOT auction. Details will be announced later today.

For more on future auctions see the full MNI Eurozone/UK T-bill auction calendar here.