MNI EGB Issuance, Redemption and Cash Flow Matrix – W/C 22 Sep

See the full document here for a look ahead to the next two weeks of issuance, a recap of this week and a summary of Q4 issuance updates.

• The Netherlands is due to hold a DDA while the EU, Belgium, Germany and Italy are all scheduled to hold auctions in the upcoming week.
• We pencil in issuance of E35.0bln for the week, up from E27.7bln this week.
• The upcoming week will see redemptions of E7.1bln, E6.0bln from a formerly 10-year ESM bond and E1.1bln from a formerly 10-year LATVIA bond.
• Coupon payments for the week total E3.0bln of which E2.8bln are French.
• This leaves estimated net flows for the week at a positive E24.9bln versus negative E17.9bln this week.