On Nov 8 Ireland.......>

IRELAND BOND AUCTION PREVIEW: On Nov 8 Ireland taps the market for a combined

Ireland E0.75bln. On offer are the re-openings of the 3.9% Mar-23 IGB, and the

0.9% May-28 IGB. 

HISTORY: At the last auction of the 3.9% Mar-23 IGB on Apr 12, E0.633bln was

allotted at an average yield of 0.202% with a bid-cover ratio of 1.8.

- At the last auction of the 0.9% May-28 IGB on Sep 13, E1.0bln was allotted at

an average yield of 0.888% with a bid-to-cover ratio of 2.4

RV/BACKGROUND: The 2s10s curve has bull flattened across the last month, and the

10-year benchmark IGB currently trades at a yield of 1.015%. The 5-year

benchmark IGB has also gained currently trading at a yield of 0.018% having been

at 0.122% on Oct 11. 

- Ireland have already surpassed their planned issuance for 2019. 

TIMING: Results are due shortly after the auction closes at 1000GMT.