Netherlands, Italy Line up for Bond Issuance in Eurozone
Dow Jones
Sep 29
0602 GMT - The Netherlands and Italy line up for government bond sales in the eurozone on Tuesday. The backdrop is the ongoing selloff in developed market bonds. "Govies [government bonds] remain heavy, underperformance versus credit is telling," Commerzbank's Christoph Rieger says in a note. The Netherlands will launch a new January 2048-dated DSL via a Dutch Direct Auction. The Dutch State Treasury Agency has set the preliminary initial spread guidance on the new 20-year bond at 2.5-6.5 basis points above Germany's May 2047 Bund, which is the pricing reference bond in the upcoming issuance. Meanwhile, Italy will auction up to 8 billion euros in three bonds, including a new February 2032-dated BTP, the existing October 2036 BTP and the April 2036-dated CCTeu, a floating rate note.
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