MNI EGB Supply Daily - 26 February, 2026

Today, Italy will look to conclude auction issuance for the week with a 5/10-year BTP / CCTeu auction while the ordinary non-competitive round of the Belgian OLO auction will be held. Earlier this week, the EFSF and Spain held syndications while the EU, Belgium, Germany and Italy held auctions. We look for issuance of E35.7bln for the week (excluding retail), down from E39.0bln last week.

For the full document with a recap of issuance so far this week and a look ahead to issuance through the remainder of this week and next week click here

• Italy will return to the market today with a 5/10-year BTP / CCTeu auction. On offer will be E2.25-2.75bln of the on-the-run 5-year 2.85% Feb-31 BTP (ISIN: IT0005671273) (in what is likely its last reopening) alongside E3.25-3.75bln of the on-the-run 10-year 3.45% Feb-36 BTP (ISIN: IT0005676504) and E2.0-2.5bln of the Apr-35 CCTeu (ISIN: IT0005680753).