Weekly Supply Monitor: Euro, US, and UK Supply Outlook

Research evidence excerpt

Weekly Supply Monitor: Euro, US, and UK Supply Outlook

ountry Nominal Size Issue Details DV01 Approx. Number 10yr Futures

(Local Ccy, bn) $million/bp TYU6 (UST) G U6 (Gilt) RXU6 (Bund)

18 Aug (Tue) UK 4.0 4.875% Treasury Gilt 2036 (issue confirmed, estimated size) 4.1 32k

19 Aug (Wed) Germany 6.0 Bund 3% Aug36 (issue and size confirmed) 5.8 51k

19 Aug (Wed) US 16.0 20-Year 20.0 314k

20 Aug (Thu) France 10.0 2-8.5yr OATs (date confirmed, estimated issue and size) 4.0 36k

20 Aug (Thu) France 1.5 OATei/i (date confirmed, estimated issue and size) 1.6 14k

20 Aug (Thu) Spain Bonos (date confirmed) - we expect this auction to be cancelled

20 Aug (Thu) US 8.0 30-Year TIPS (re-opening) 16.4 258k

Weekly $DV01 of Issuance 51.9

Total Number of Futures Contracts 572k 32k 101k

Date Country Nominal Size Issue Details DV01 Approx. Number 10yr Futures

24 Aug (Mon) Belgium 2.75 OLOs (date confirmed, estimated tenor and size) 2.5 23k

25 Aug (Tue) Germany 5.0 Schatz 2.7% Sep28 (issue and size confirmed) 1.2 10k

25 Aug (Tue) UK 4.75 4.125% Treasury Gilt 2033 (issue confrimed, estimated size) 3.5 27k

25 Aug (Tue) US 69.0 2-Year 15.1 238k

26 Aug (Wed) Germany 2.0 Bunds including 2.6% May41 (€1.5bn) - issue and size confirmed 2.8 25k

26 Aug (Wed) Italy 4.0 BTP short term (date confirmed, estimated size) 0.8 7k

26 Aug (Wed) Italy BTPei - CANCELLED

26 Aug (Wed) US 70.0 5-Year 30.9 487k

26 Aug (Wed) US 28.0 2-Year FRN (re-opening) 6.1 96k

27 Aug (Thu) Finland 0.4 ORI-RFGBs (date and size confirmed, estimated tenor) 0.4 3k

27 Aug (Thu) US 44.0 7-Year 28.8 453k

28 Aug (Fri) Italy 9.0 5yr and 10yr BTPs (date confirmed, estimated size) 6.7 60k

28 Aug (Fri) Italy 2.0 CCTeu (date confirmed, estimated size) 1.3 12k

Weekly $DV01 of Issuance 100.3

Total Number of Futures Contracts 1273k 27k 140k