EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

Below are the known dates for auctions of European bonds and UK gilts. All times are UK.

See the notes section at the bottom for more colour.

• Cancelled auctions:
  • The EU has announced it will not hold its reserve bond syndication w/c December 9.
  • Spain has announced a cancellation of the auction previously scheduled for December 12.
  • Slovakia has announced it will not make use of all of its auctions scheduled for this December.
  • Italy has announced it will not make use of its auctions previously scheduled for December 30/31.
• Finland: The next quarterly funding update is scheduled for 20 December (we assume this will accompany their 2025 issuance target).
• Italy: New bonds issued in Q4: 3-year 2.70% Oct-27 BTP (E9bln min, launched 13 November) and 7-year 3.15% Nov-31 BTP (E10bln min, launched via syndication on 22 October). Bonds to be reopened in Q4 are the 3.10% Aug-26 BTP Short Term (ISIN: IT0005607269, E9bln minimum amount already exceeded), the 3-year 3.45% Jul-27 BTP (ISIN: IT0005599904, E9bln min already exceeded), the 5-year 3.00% Oct-29 BTP (ISIN: IT0005611055, E10bln min), the 7-year 3.45% Jul-31 BTP (ISIN: IT0005595803, E10bln min already exceeded), and the 10-year 3.85% Feb-35 BTP (ISIN: IT0005607970, E10bln min already exceeded).
• Netherlands: The DSTA will release its 2025 outlook on Friday 13 December.
• The BOE will announce its Q1-25 APF sales schedule on 20 December at 16:30GMT.
• The UK plans to hold a 10-year gilt syndication in February and to launch a new 20-25 year linker via syndication in March.
• The DMO will hold a consultation with GEMMs and investors to discuss FQ1-25 (Apr-Jun) issuance on Monday 17 March with the agenda likely published on Monday 10 March (subject to the Spring Budgetary statement).