MNI EGB Issuance, Redemption and Cash Flow Matrix – W/C 6 Oct

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 EU will look to hold a syndication in the upcoming week, while Austria, Germany and Ireland are all scheduled to hold auctions. We think there is also scope for a potential Portuguese exchange auction. 
• We pencil in issuance of E17.9bln for the week, down from E22.5bln this week.
• The upcoming week will see redemptions of E36.1bln, E27.5bln from a German conventional Bobl and E8.5bln from a German green Bobl.
• Coupon payments for the week total E3.5bln of which E3.4bln are from the EU.
• This leaves estimated net flows for the week at negative E21.7bln, versus positive E3.5bln this week.