-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM
MNI BRIEF: SNB Cuts Policy Rate By 50 BP To 0.5%
MNI EUROPEAN MARKETS ANALYSIS: ECB Expected To Cut Rates Later
MNI INTERVIEW: Ireland Open To Different Debt Maturities
Ireland is considering all maturities for debt issuance this year, the head of the National Treasury Management Agency told MNI, noting investor demand in recent years at the longer end of the curve.
Levels of green issuance this year have still to be decided, Director of Funding and Debt Management Frank O'Connor said in written responses to emailed questions, noting that market feedback to the debt type had been positive.
Asked whether the NTMA is looking to sell any particular maturities, or if there are plans either to tap existing 50-100 year debt or launch new issues in the area, O'Connor said he would continue to look at all maturities. "In recent years our desire to lengthen and smoothen our maturity profile has been matched by investor demand for longer maturities."
"The fact that our maturity profile is relatively long and relatively smooth means that we've already locked in the benefits of low rates for long periods. As such even if interest rates go up, there would be a considerable time lag before that would feed through to our debt servicing costs."
ON SCHEDULE
Ireland's 2021 debt issuance is in line with and may be ahead of schedule, O'Connor said, adding that the absence of any bond maturities this year and significant cash balances brought from 2020 underline the country's strong funding position.
January's EUR5.5 billion syndication was an "encouraging" start its 2021 issuance programme, which has a target funding range of EUR16-20 billion in benchmark bonds.
The country has also issued T-bill worth EUR1.5bn to date, with three T-Bill auctions scheduled for Q1, and no plans at present to sell foreign currency bonds this year.
Ireland's initial allocation from the European Commission's Recovery and Resilience Fund is EUR853m spread across 2021 and 2022, O'Connor said, with a smaller amount likely to be received in 2023, although no assumption of monies received in 2021 were included in the NTMA's funding plans.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.