MNI EGB Issuance, Redemption and Cash Flow Matrix – W/C 16 Feb

See the full document here for a look ahead to the next two weeks of issuance, and a recap of this week's issuance.

• Slovakia, Germany, Finland, Spain, and France will be looking to hold auctions in the upcoming week.
• We look for issuance of E34.7bln for the week, down from E42.7bln this week.
• The upcoming week will see redemptions of E36.3bln: these mainly consist of E33.5bln from a formerly 10-year Bund and USD3.0bln of a formerly 3-year Italy USD bond.
• Coupon payments for the week total E7.2bln: E3.4bln German, E1.9bln Austrian, E0.8bln Italian, E0.6bln Portuguese and E0.2bln Irish.
• This leaves estimated net flows for the week at negative E8.8bln, versus positive E35.4bln this week.