US Treasury Supply Returns As European Issuance Builds - LS FI Rundown
Week commencing 26 October 2026 | News The week's principal supply event is the USD 213 bln US Treasury programme, with the 5-year and 7-year auctions accounting for most of the duration exposure. Substantial coupon and redemption payments offer reinvestment support, although the FOMC decision could have a greater influence on auction demand and front-end yields. Europe faces approximately EUR 24 bln of EGB issuance, rising to around EUR 32 bln under Citi's broader euro-denominated calculation. Germany and Italy lead the sovereign calendar, while the European Commission adds EUR 7 bln of supranational supply. UK issuance is comparatively modest at GBP 5.5 bln, but Wednesday's Budget could prove more consequential for gilt markets than the auctions themselves, particularly if borrowing requirements or the maturity profile of issuance change. Asia-Pacific supply remains steady, led by Japan's 2-year JGB auction, while monetary policy decisions and inflation data will shape demand across regional bond markets. Continue Reading Here
Week commencing 26 October 2026 | News The week's principal supply event is the USD 213 bln US Treasury programme, with the 5-year and 7-year auctions accounting for most of the duration exposure. Substantial coupon and redemption payments offer reinvestment support, although the FOMC decision could have a greater influence on auction demand and front-end yields. Europe faces approximately EUR 24 bln of EGB issuance, rising to around EUR 32 bln under Citi's broader euro-denominated calculation. Germany and Italy lead the sovereign calendar, while the European Commission adds EUR 7 bln of supranational supply.
UK issuance is comparatively modest at GBP 5.5 bln, but Wednesday's Budget could prove more consequential for gilt markets than the auctions themselves, particularly if borrowing requirements or the maturity profile of issuance change. Asia-Pacific supply remains steady, led by Japan's 2-year JGB auction, while monetary policy decisions and inflation data will shape demand across regional bond markets. Continue Reading Here