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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessHighlights Of 2021 Financing Programme
The IGCP has released Portugal's 2021 funding programme (PDF link here). The key highlights:
- EUR14bn Central gov't net financing requirement, plus EUR11.6bn in bond redemptions = EUR25.6bn total borrowing requirement
- That EUR25.6bn to be financed via the following: EUR15bn of gross bond issuance (vs EUR27.2bn in 2020), plus EUR2.9bn funding, EUR1.0bn "other flows" , and EUR6.7bn use of deposits
- Bond auctions to be held on the 2nd or 4th Weds of each month
- Bill issuance seen as net null impact in net financing. Auctions to be held on the 3rd Weds of each month but could also use 1st Weds if justified by demand.
- First three bill auctions will be on Jan 20 (6-/12-month, EUR1.25-1.50bn), Feb 17 (3-/11-month, EUR1.00-1.25bn), Mar 17 (6-/12-month, EUR1.25-1.50bn).
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.