EUROZONE T-BILL ISSUANCE: W/C 9 June
Jun-06 14:41
Spain, Belgium, France and Italy are due to sell bills next week. We expect issuance to be E21.0bln in first-round operations, down from E27.7bln this week.
- On Tuesday morning, Spain will look to sell the 3-month Sep 5, 2025 letras and the 9-month Mar 6, 2026 letras, with size details set to be announced on Monday.
- Also on Tuesday, Belgium will look to issue a combined E2.2-2.6bln of TCs: An indicative E0.8bln of the 3-month Sep 11, 2025 TC and an indicative E1.6bln of the 12-month Jun 11, 2026 TC.
- On Tuesday, France will look to come to the market with a combined E7.4bln of 13/14/27/49-week BTFs: E0.1-0.5bln of the 13-week Sep 10, 2025 BTF; E2.8-3.2bln of the new 14-week Sep 17, 2025 BTF; E1.4-1.8bln of the 27-week Dec 17, 2025 BTF; and E1.5-1.9bln of the 49-week May 20, 2026 BTF. The auction is held on Tuesday due to the Whit Monday public holiday on Monday.
- Finally on Wednesday morning, Italy will look to sell a new 12-month BOT, potentially alongside another BOT, with details set to be announced this evening.
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BTP: The Italian 10yr Yield is set to test the April low
May-07 14:37
- The Italian BTP is now testing that April high of 120.57, so far printed a 120.55 high.
- Worth noting that Technical also sees the next resistance at 120.65 1.382 proj of the Mar 14 - Apr 4 - 9 price swing.
- While in Yield the 3.537% April low also equates near that level at 120.68, an interesting area here.
(Chart source: MNI/Bloomberg).
MNI EXCLUSIVE: MNI Speaks to Evan Koenig on Economic Outlook
May-07 14:35
- MNI speaks to Evan Koenig, former senior aide to the president of the Dallas Fed, on the economic outlook -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
US TSY FUTURES: BLOCK: Jun'25
May-07 14:33
Block 2s10s steepener crossed at 1025:00ET, DV01 $ 320,000
- +8,500 TUM5 103-22.62, post time bid vs.
- --5,000 TYM5 111-12, sell through 111-12.5 post time bid
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