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MNI INTERVIEW: Bond Sale Flexibility Needed - Ireland's NTMA​

(MNI) LONDON
(MNI) Brussels

Debt managers may need to show flexibility over issuance plans as market conditions adjust, Irish debt manager says.

Debt managers may need to make more frequent adjustments to issuance programs, altering maturities and timing of sales, as investors demand higher returns now that the era of large-scale quantitative easing is over, a deputy director at Ireland's National Treasury Management Agency told MNI on Wednesday.

"We may have to show degrees of flexibility in syndication deals and the auction calendar," Anthony Linehan said, noting that certain times may find certain sectors of the debt market curve far easier to access. "If a certain sector of the curve is being squeezed out by investors, we may need to adapt and look elsewhere, show a greater sensitivity to timing.”

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Debt managers may need to make more frequent adjustments to issuance programs, altering maturities and timing of sales, as investors demand higher returns now that the era of large-scale quantitative easing is over, a deputy director at Ireland's National Treasury Management Agency told MNI on Wednesday.

"We may have to show degrees of flexibility in syndication deals and the auction calendar," Anthony Linehan said, noting that certain times may find certain sectors of the debt market curve far easier to access. "If a certain sector of the curve is being squeezed out by investors, we may need to adapt and look elsewhere, show a greater sensitivity to timing.”

Keep reading...Show less