Germany will return to the market today while Portugal will also hold an auction and Austria the non-competitive round of its auction. Spain, Italy and Belgium will all look to hold auctions later this week. Austria and Germany held auctions yesterday. We look for gross issuance of E24.9bln for the week, up from E22.0bln last week.
For the full document with a look ahead to issuance through the remainder of this week and next week click here.
- Germany will return to the market this morning with E5bln of the 10-year 2.90% Feb-36 Bund (ISIN: DE000BU2Z064) on offer.
- Portugal will also hold an auction this morning with a combined E1.25-1.50bln on offer of on-the-run 10-year 3.25% Jun-36 OT and the on-the-run 15-year 3.375% Jun-40 OT.
- Austria will hold the non-competitive round will be held today for the 3.45% Oct-30 RAGB (ISIN: AT0000A38239) and the on-the-run 10-year 3.20% Feb-36 RAGB (ISIN: AT0000A3RVH9).