EUROZONE ISSUANCE: EGB Supply - W/C 2 June (1/2)

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Slovakia, the EU, Austria, Germany, Spain and France will look to hold auctions in the upcoming week. We pencil in estimated gross issuance for the week of E30.6bln, down from E50.0bln this week.

• Slovakia will kick off auctions for the week on Monday with a special auction of the new 4-year 2.50% Jun-29 SlovGB (ISIN: SK4000027397) on offer.
• The EU will then come to the market, also on Monday, to hold an EU-bond auction. On offer will be up to E2.5bln of the 2.625% Jul-28 EU-bond (ISIN: EU000A4D5QM6), up to E2.0bln of the 2.75% Feb-33 Green EU-bond (ISIN: EU000A3K4DW8) and up to E1.5bln of the 3.375% Nov-42 EU-bond (ISIN: EU000A3K4DV0).
• On Tuesday, Austria will look to hold an RAGB auction with details to be confirmed on Thursday 29 May. It will be looking to sell up to a combined E1.4375bln of the on-the-run 10-year 2.95% Feb-35 RAGB (ISIN: AT0000A3HU25) as we expected alongside the 2.90% May-29 Green RAGB (ISIN: AT0000A33SH3).
• Germany will also come to the market on Tuesday with E4.5bln of the 1.70% Jun-27 Schatz (ISIN: DE000BU22098) on offer.