ITC Weekly Global Supply and Economic Calendars (14th May)

Look ahead to week commencing May 14th, 2012

EUR:  The week sees estimated €-govie supply of €23.45bn / Approx 109k bund futures equivalent of supply from Italy (3y, 8y, 10y, 13y), Finland (5y), Germany (10y), France (2y, 3y, 4y, 5y) and Spain (3y, 3y, 4y), the EFSF will also tap the 5y note.Net cash-flow for the week is negative with coupons and redemptions due for a combined €0.5bn from Greece (coupons €0.43bn) and Austria (coupons €0.07bn).

UK: The week sees the UK tap the 13y Gilt and reopen the 2y Gilt for a combined for £4.25bn (comb. gilt futures equivalent 33k). Cash-flow for the week is negative with no coupons or redemptions due to be repaid.

US: The week sees the Treasury reopen the 10y TIPS for $13.0bn. Net cash-flow for the week is positive, though we note that the $66.26bn in coupons and redemptions due to be repaid falls on the settlement date of the prior week's auctions (coupons $4.87bn and redemptions $61.39bn).

MONDAY MAY 14TH / TUESDAY 15TH

TUESDAY 15TH / WEDNESDAY 16TH

WEDNESDAY 16TH / THURSDAY MAY 17TH

THURSDAY 17TH / FRIDAY MAY 18TH

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