EUROZONE ISSUANCE: EGB Supply: W/C 23 June (1/2)
Jun-20 17:26
The EU, Belgium, Germany and Italy are scheduled to hold auctions in the upcoming week, while Finland is due to hold an ORI auction. We pencil in estimated gross issuance for the week of E27.3bln, a little lower than the E28.9bln this week.
- The EU will kick off issuance for the week on Monday with an EU-bond auction to complete its H1 issuance. It will be looking to sell up to E2.0bln of the 2.875% Oct-29 EU-bond (ISIN: EU000A3L1CN4), up to E2.5bln of the 3.375% Dec-35 EU-bond (ISIN: EU000A4D8KD2) and up to E1.5bln of the 0.70% Jul-51 EU-bond (ISIN: EU000A3KTGW6).
- Belgium will also look to hold a conventional auction on Monday with a combined E2.8-3.3bln on offer across three lines: the 0.10% Jun-30 OLO (ISIN: BE0000349580), the 3.10% Jun-35 OLO (ISIN: BE0000363722, which we’ve expected in particular), and the 0.40% Jun-40 OLO (ISIN: BE0000350596).
- Germany will come to the market on Tuesday with E4bln of the 1.70% Jun-27 Schatz ISIN (DE000BU22098) on offer.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSY FUTURES: BLOCK: Jun'25 10Y Ultra Sale
May-21 17:25
- -3,500 UXYM5 111-08, sell through 111-09 post time bid, DV01 $303,000.
- The 10Y ultra contract trades 111-05.5 last (-30)
US TSY FUTURES: Post-Auction Selling Extends
May-21 17:22
- Treasury futures extend session lows post auction, curves bear steepen (2s10s +4.122 at 5.349) with bonds yield climbing to 5.0521% high - highest since late October 2023. 10Y yield up to 4.5665% (+.0796).
- The Jun'25 10Y futures contract trades 109-19 low (-19.5) just above initial technical support at 109-18.5 (May 15 low) - strengthening a bearish theme and exposing key support at 109-08, Apr 24 low and a bear trigger.
- Cross asset update: Gold up 22.0 at 3312.13, stocks weaker again with rise in bond yield (SPX emini -55.5 at 5509.25), Crude mildly weaker (WTI -.10 at 61.93)
PIPELINE: Corporate Bond Update: Waiting for Citibank 4Pt
May-21 17:12
- Date $MM Issuer (Priced *, Launch #)
- 05/20 $4B *ADB 5Y SOFR+42
- 05/21 $2B #Turkiye 7Y 7.45%
- 05/21 $2B #CoreWeave 5NC2 9.25%
- 05/21 $2B #BPCE $1B 6NC5 +125, $1B 11NC10 +145
- 05/21 $1.5B *OKB 3Y +34
- 05/21 $1.25B *Kommunalbanken +5Y SOFR+49
- 05/21 $1B #Northwestern Mutual Life 30Y +135a
- 05/21 $Benchmark Citibank 2Y +58, 2Y SOFR, 5Y +78, 5Y SOFR
- Expected Thursday:
- 05/21 $1B Finnvera WNG 5Y SOFR+53a
