The Irish Debt.........>

IRELAND BOND AUCTION PREVIEW: The Irish Debt Management Office will come to

market on Thursday to issue the 1.1% May-29, and 1.7% May-37 IGBs for a combined

E1.0-1.25bln. 

- HISTORY: The results of the last auction for the above bonds are listed below:

1.1% May-29: average yield 1.12%, cover 4.53x, on 09/01/19. 

1.7% May-37: average yield 1.59%, cover 2.06x, on 08/02/18.

- BACKGROUND: This auction will be first held by the Irish Debt Management

Office in 2019. They have however still issued roughly 25% (E4.0bln) of their

planned yearly issuance through the January syndication of the 10yr benchmark.

Recent risk on sentiment in markets has seen EGB spreads vs bunds narrow, whilst

a drop in periphery supply across the next two weeks should also offer support

to periphery prices.

Current Yields: The 1.1% May-29 trades at 0.882%, with 1.7% May-37 at 1.437%.  

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