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Treasury and SAS Issuance Calendar
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In the pipeline – Treasuries:
Ireland: May not hold its 18 May bond auction. Considering the possibility of a syndicated 30y bond
Italy: To issue another new BTP (Jun-13) in Q2
Poland: May sell around USD 1bn of bonds and about JPY 0.5trn of bonds by the middle of the year
Portugal: New syndicated OT (EUR 3bn) expected in Q2
UK: To hold two syndications: H2 May, IL gilt (30-40y); H2 Jun, long-dated gilt (for both offerings, details about two weeks in advance)
Finland: To hold a second syndicated auction (new 5y) more likely in H2. May issue a 5y USD bond in 2010
Czech Rep.: To issue at least EUR 1bn depending on market conditions
Denmark: To issue a EUR 5y loan (EUR 1-2bn) in H1 2010. To open new 5y & 10y DGBs H2 '10
Slovak Rep.: Considering issuing new syndicated 15y benchmark bond (around EUR 1.5bn) in the autumn
During the week:
FHLB: May Global Notes auction details to be announced on Wednesday 12 May
Date Day Closing Country Issues Details BNPP forecasts
Local GMT
07/05 Fri 12:00 03:00 Japan JGBs 20y Auction for Enhanced-liquidity issue 82-113
JGBs 30y Auction for Enhanced-liquidity issue 4-31
JPY 0.3tn
11/05 Tue 12:00 03:00 Japan JGB 20 Mar 2020 JPY 2.2tn
10:30 09:30 UK Gilt 4.25% 7 Dec 2027 GBP 2.25bn
Neths DSL 2.75% 15 Jan 2015 EUR 2-2.5bn
Denmark DGB 4% 15 Nov 2019 DKK 4bn
12:00 16:00 Canada Repurchase of 8 Cash Mgt Bonds (Jun-10 - Jun-11) CAD 1bn
13:00 17:00 US Notes 1.375% 15 May 2013 (new) USD 38bn
12/05 Wed 11:00 09:00 Germany Schatz 15 Jun 2012 (new) EUR 7bn
10:30 09:30 Portugal OT 4.8% 15 Jun 2020 EUR 0.3-1bn
12:00 16:00 Canada CAN 3-year 6 May
13:00 17:00 US Notes 3.5% 15 May 2020 (new) USD 24bn
13/05 Thu 12:00 03:00 Japan JGB 20 Mar 2050 JPY 0.3tn
10:55 08:55 Italy BTPs 10 May EUR 7-9bn
10:30 09:30 UK Index-Linked Gilt 1.875% 22 Nov 2022 GBP 1.1bn
13:00 17:00 US Bond 4.25% 15 May 2040 (new) USD 16bn
17/05 Mon Slovak Rep. SLOVGB 3.5% 24 Feb 2016 (#213) EUR 0.15bn
18/05 Tue 12:00 03:00 Japan JGB 5-year 11 May JPY 2.4tn
10:00 09:00 Ireland Gilts 11 May EUR 1-1.5bn
Neths DSL 15 Jan 2042 (DDA) (new) EUR 4bn
19/05 Wed 11:00 09:00 Germany Bund 3% 4 Jul 2020 EUR 6bn
11:00 09:00 Norway NGBs 10 May
11:00 09:00 Sweden T-bonds 12 May SEK 3bn
12:00 16:00 Canada CAN 30-year 13 May
20/05 Thu 12:00 03:00 Japan JGB 20-year 13 May JPY 1.1tn
10:30 08:30 Spain Obligacion 4% 30 Apr 2020 17 May EUR 4bn
10:50 08:50 France BTANs 2- &/or 5-year 14 May EUR 7bn
11:50 09:50 France OATis , OATeis, BTANeis 14 May
10:30 09:30 UK Gilt 4.75% 7 Mar 2020 11 May
25/05 Tue 12:00 03:00 Japan Auction for Enhanced-liquidity 18 May JPY 0.3tn
Neths DSLs (Off-the-run facility) 19 May EUR 1bn
13:00 17:00 US Notes 2-year (new) 20 May USD 44bn
26/05 Wed 10:55 08:55 Italy CTZ 21 May
11:00 09:00 Germany OBL 2.25% 10 Apr 2015 (#157) EUR 7bn
10:30 09:30 Portugal OTs (To be confirmed) 20 May EUR 1bn
Denmark DGB 21 May
12:00 16:00 Canada CANi 30-year 20 May
13:00 17:00 US Notes 5-year (new) 20 May USD 42bn
27/05 Thu 12:00 03:00 Japan JGB 2-year 20 May JPY 2.6tn
10:55 08:55 Italy BTPeis 21 May
11:00 09:00 Sweden ILBs 20 May SEK 0.75bn
Denmark DGB 4% 15 Nov 2010 (buy back)
13:00 17:00 US Notes 7-year (new) 20 May USD 32bn
28/05 Fri 10:55 08:55 Italy 3 & 10y BTPs and CCT 21 May EUR 8-9bn
31/05 Mon Slovak Rep. SLOVGB 27 Jan 2012 (#212) (new) EUR 0.2bn
01/06 Tue 12:00 03:00 Japan JGB 10-year 25 May JPY 2.2tn
02/06 Wed 11:00 09:00 Sweden T-bonds 26 May SEK 3bn
10:30 09:30 UK Gilt 2.75% 22 Jan 2015 25 May
12:00 16:00 Canada CAN 2-year 27 May
03/06 Thu 12:00 03:00 Japan Auction for Enhanced-liquidity 27 May JPY 0.3tn
10:50 08:50 France OATs 28 May
10:30 09:30 UK Gilt 4.5% 7 Sep 2034 25 May
Sources: Treasuries, BNP Paribas
Interest Rate Strategy 7 May 2010
Market Mover, Non-Objective Research Section
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