The government also needs to refinance a 1 billion -
euro bond maturing in November and a smaller yen note
due in July, according to data on the website of the debt - management agency, known as AKK.
The financing needs coming
due in the first quarter «imply that
euro area banks will not have extra money as a result of the three - year auction to purchase European sovereign
bonds, using a carry - trade strategy, because the amount of fresh cash is less than the amount of bank debt that will mature during the quarter», Powell wrote recently.