Issuance activity: On Wednesday, 21 October, MinFin is scheduled to auction CZK4.0bn of 2031 bonds, CZK2.0bn of 2034 bonds and CZK1.0bn of 2043 floater. Last week, the MinFin announced that it had issued an additional CZK17.5bn of 3M retail T-bills. This year's total retail issuance has therefore reached CZK91.5bn. The retail campaign is likely to continue to reduce the overall CZGB supply on financial markets next year too, as another subscription period is already planned for the end of the year, with the securities being issued in 1Q27. So far this year, MinFin has issued a total of CZK292.6bn CZGBs on the primary market (MinFin projects CZK270 370bn for the full year), as well as an additional CZK121.8bn on the secondary market.