On Tuesday next week, the Irish...>

EUROZONE ISSUANCE: On Tuesday next week, the Irish NTMA will release its Q2

funding update. MNI calculations Ireland is 39% of the way through their 2018

funding plan (using the mid-point of the E16-18bln target range).

- Soon after the very successful 10Y syndicated 10Y, the NTMA told journalists

that they might consider another syndicated deal later this year. 

- Ryan McGrath at Cantors in Dublin believes that "Given the uncertainty

surrounding the future of QE and in particular the markets expectations that ECB

bond purchases will end in 2018, coupled with the recent flattening of the yield

curve, we suggest that any second syndicated deal in 2018 is likely to come in

Q2."

- In terms of maturity McGrath believes "a new Irish benchmark 15 year (2033) or

a long dated 30 year (2048) are the likely candidates for any syndicated deal

with the former our preferred choice."

- Cantors also expect two regular auctions in Q2, opening the Irish Oct-2022s,

2028s and 2037s.