MNI EGB Issuance, Redemption and Cash Flow Matrix – W/C 4 Aug

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

• Austria, Germany, Spain and France look to hold auctions in the upcoming week.
• We pencil in issuance of E25.4bln, up from E17.2bln this week.
• The upcoming week sees E0.7bln of redemptions, of which E0.6bln is from a formerly 3-year LithGB, while coupon payments total just E0.2bln.
• This leaves estimated net flows for the week at positive E24.4bln, versus negative E26.2bln this week.