MARKET MOVER - BNP PARIBAS - Investment Services India
MARKET MOVER - BNP PARIBAS - Investment Services India
MARKET MOVER - BNP PARIBAS - Investment Services India
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Treasury and SAS Issuance Calendar<br />
This publication is classified as non-objective research<br />
In the pipeline - Treasuries:<br />
Italy: To issue a new CTZ Sep 14 in Q3<br />
UK: DMO will consider scheduling up to two gilt mini-tenders in Q4<br />
UK: Gilt 30-year (new, syndicated) to be offered in the second half of October (details a month in advance)<br />
UK: Index-Linked Gilt to be offered via syndication in the second half of November (details a month in advance)<br />
Finland: Likely to arrange 1 or 2 tap auctions in H2<br />
During the week:<br />
UK: Index-Linked Gilt 0.25% Mar 2052 (new, syndicated)<br />
FHLMC: Second Optional Reference Notes announcement in September on Thursday 27<br />
Date Day Closing Country Issues Details <strong>BNP</strong>P forecasts<br />
Local GMT<br />
21/09 Fri 11:00 15:00 US Outright Treasury Coupon Purchase (Nov22-Feb31) USD 1.5-2bn<br />
24/09 Mon 11:00 09:00 Norway NGB 4.5% 22 May 2019 (NST 473) NOK 2bn<br />
14:45 13:45 UK Gilt Purchase (7 Gilts 2016-2019) GBP 1bn<br />
12:00 10:00 Belgium OLO 3.50% 28 Jun 2017 (OLO 63)<br />
OLO 3.00% 28 Sep 2019 (OLO 67)<br />
OLO 4.25% 28 Sep 2021 (OLO 61)<br />
21 Sep EUR 2-3bn<br />
OLO 4.25% 28 Sep 2022 (OLO 65)<br />
11:00 15:00 US Outright Treasury Coupon Purchase (Feb36-Aug42) USD 1.5-2bn<br />
25/09 Tue 12:00 03:00 Japan JGBs 10-year Auction for Enhanced-liquidity issue<br />
289-319; 7 issues excl<br />
JGBs 20-year Auction for Enhanced-liquidity<br />
issue 51-101; 15 issues excl.<br />
JPY 0.3tn<br />
10:55 08:55 Italy CTZ 21 Sep EUR 2.5-3.5bn<br />
BTPeis 21 Sep EUR 1-1.5bn<br />
14:45 13:45 UK Gilt Purchase (15 Gilts 2027-2060) GBP 1bn<br />
Neths DSL 2.5% 15 Jan 2033 EUR 1.5-2.5bn<br />
12:00 16:00 Canada Repurchase of 6 Cash Mgt Bonds (Dec12 to Nov13) CAD 1bn<br />
11:00 15:00 US Outright Treasury Coupon Purchase (Nov20-Aug22) USD 4.50-5.50bn<br />
13:00 17:00 US Notes 0.250% 30 Sep 2014 (new) USD 35bn<br />
26/09 Wed 11:30 09:30 Germany Bund 1.50% 4 Sep 2022 EUR 5bn<br />
14:45 13:45 UK Gilt Purchase (5 Gilts 2020-2025) GBP 1bn<br />
10:15 08:15 Denmark DGB 4% 15 Nov 2012 (Buy-back)<br />
DGB 5% 15 Nov 2013 (Buy-back)<br />
12:00 16:00 Canada CAN 2-year 20 Sep<br />
11:00 15:00 US Outright Treasury Coupon Purchase (Sep18-Aug20) USD 4.25-5bn<br />
13:00 17:00 US Notes 0.625% 30 Sep 2017 (new) USD 35bn<br />
27/09 Thu 12:00 03:00 Japan JGB 15 Oct 2014 JPY 2.7tn<br />
10:55 08:55 Italy 5 & 10y BTPs and possibly CCTeu 24 Sep EUR 6-7bn<br />
13:00 17:00 US Notes 1.125% 30 Sep 2019 (new) USD 29bn<br />
Outright Treasury Coupon Sales (Sep15-Nov15)<br />
USD 7-8bn<br />
28/09 Fri 11:00 15:00 US Outright Treasury Coupon Purchase (Feb36-Aug42) USD 1.5-2bn<br />
01/10 Mon 14:45 13:45 UK Gilt Purchase (3-7 year Gilts) GBP 1bn<br />
02/10 Tue 12:00 03:00 Japan Auction for Enhanced-liquidity 25 Sep JPY 0.3tn<br />
11:00 09:00 Austria RAGBs 25 Sep EUR 1-1.5bn<br />
10:30 09:30 UK Gilt 1.75% 7 Sep 2022 25 Sep GBP 3.5bn<br />
14:45 13:45 UK Gilt Purchase (over 15 year Gilts) GBP 1bn<br />
03/10 Wed 11:30 09:30 Germany OBL 0.50% 13 Oct 2017 (Series 164, date TBC) EUR 4bn<br />
11:00 09:00 Sweden T-bonds 26 Sep SEK 3.5bn<br />
14:45 13:45 UK Gilt Purchase (7-15 year Gilts) GBP 1bn<br />
04/10 Thu 12:00 03:00 Japan JGB 10-year 27 Sep JPY 2.3tn<br />
10:30 08:30 Spain Bonos 28 Sep EUR 3-5bn<br />
10:50 08:50 France OATs 28 Sep EUR 7-9bn<br />
08/10 Mon 11:00 09:00 Norway NGBs 3 Oct<br />
14:45 13:45 UK Gilt Purchase (3-7 year Gilts) GBP 1bn<br />
09/10 Tue 10:30 09:30 UK Gilt 4.25% 7 Jun 2032 2 Oct GBP 2bn<br />
14:45 13:45 UK Gilt Purchase (over 15 year Gilts) GBP 1bn<br />
Neths DSLs EUR 2-2.5bn<br />
10:15 08:15 Denmark DGBs (Tentative date) 4 Oct<br />
13:00 17:00 US Notes 3-year (new) 4 Oct USD 32bn<br />
10/10 Wed 11:30 09:30 Germany Schatz 0.00% 12 Sep 2014 (Date to be confirmed) EUR 5bn<br />
14:45 13:45 UK Gilt Purchase (7-15 year Gilts) GBP 1bn<br />
13:00 17:00 US Notes 10-year 4 Oct USD 21bn<br />
11/10 Thu 12:00 03:00 Japan JGB 30-year 4 Oct JPY 0.7tn<br />
10:55 08:55 Italy 3-year BTP and possibly 15- or 30-year BTP 8 Oct EUR 5-7bn<br />
11:00 09:00 Sweden ILBs 4 Oct SEK 0.5bn<br />
10:30 09:30 UK Index-Linked Gilt 22 Mar 2024 (new) 2 Oct GBP 1.3bn<br />
13:00 17:00 US Bond 30-year 4 Oct USD 13bn<br />
12/10 Fri 12:00 10:00 Belgium ORI (Optional Reverse Inquiry OLO Auction) 11 Oct EUR 0.4bn<br />
Sources: Treasuries, <strong>BNP</strong> Paribas<br />
Interest Rate Strategy 20 September 2012<br />
Market Mover<br />
55<br />
www.GlobalMarkets.bnpparibas.com
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