View Poll Results: The Irish Government Will Seek IMF/EU Stability Funds

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  • Before the end of 2010

    59 38.56%
  • Jan-May 2011

    56 36.60%
  • May-Dec 2011

    17 11.11%
  • Later

    6 3.92%
  • Not at all

    15 9.80%
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Thread: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

  1. #31
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    NMTA's bond auction would be starting at 11am this morning as it would consist to two seperate auctions for 4 year bonds and ten year bonds. It will raise E1.5bn

    4% for Four yeear bonds (2014).

    5% for ten year bonds (2020).

    Link:http://www.ntma.ie/Publication/2010/...e17Aug2010.pdf

  2. #32
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    1.5 BN done

    4.0% April 2014
    Total Amount Allocated (million) - 500.0
    Lowest Price Allocated - 101.050 = yield of 3.661 %
    Highest Price Allocated - 101.310 = yield of 3.579 %
    Weighted Average Price - 101.158 = yield of 3.627 %
    Lowest Price Allocated in Full - 101.080 = yield of 3.651 %
    Bid to Cover Ratio - 5.4
    ================================================== ==============
    5% October 2020
    Total Amount Allocated (million) - 1000.0
    Lowest Price Allocated - 96.700 = yield of 5.430 %
    Highest Price Allocated - 97.450 = yield of 5.331 %
    Weighted Average Price - 97.034 = yield of 5.386 %
    Lowest Price Allocated in Full - 96.700 = yield of 5.430 %
    Bid to Cover Ratio - 2.4
    http://www.ntma.ie/Publications/2010...ondAuction.pdf
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  3. #33
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    From Brian Lucey - via twitter -

    bond auction results ten year money 5.38% (prev 5.53) four year 3.63 (prev 3.11, may). So....away clean. Q: how much bought by irish banks?

  4. #34
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Quote Originally Posted by C. Flower View Post
    From Brian Lucey - via twitter -
    How much bought by Irish banks and/or the ECB?
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  5. #35
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Quote Originally Posted by C. Flower View Post
    From Brian Lucey - via twitter -
    More likely ECB and probably the German banks not Irish banks (They don't have the ready dosh to pay for it as they are obsessed with the idea iof Nationalisation which they detest it).

    I wonder does the NTMA show the bond buyer's list???

  6. #36
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Have we to go through this drama again next month?

  7. #37
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Quote Originally Posted by Gruffalo View Post
    Have we to go through this drama again next month?
    Yeah of course!

    See here :http://www.ntma.ie/Publications/2010...ctions2010.pdf

  8. #38
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Quote Originally Posted by Gruffalo View Post
    Have we to go through this drama again next month?
    affirmative

    The National Treasury Management Agency (NTMA) intends to issue €20 billion of Irish Government bonds in 2010. This represents a reduction of €13.7 billion, or 40 per cent, on the €33.7 billion issued in 2009. The bonds will be issued by means of eleven bond auctions to be held on the third Tuesday of each month, commencing on 19 January, and, should the opportunity arise, through syndicated issuance. The dates of the auctions are as follows:
    19 January
    16 February
    16 March
    20 April
    18 May
    15 June
    20 July
    17 August
    21 September
    19 October
    16 November
    http://www.ntma.ie/Publications/2010...ctions2010.pdf
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  9. #39
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Quote Originally Posted by DCon View Post
    Cheers.

  10. #40
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Total Bonds to date : 11795M

    Competitive auction to date:11990M

    Non-Competive action to date:1305M


    See link for info:http://www.ntma.ie/Publications/2010/Auctions2010.pdf

    Comment from NTMA re auction:http://www.ntma.ie/Publications/2010...August2010.pdf

  11. #41
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    NMTA bonds to mature at dates shown below for payment.

    Treasury Bond

    Maturity Date

    More Info
    4.0% Nov 2011
    11 Nov 2011


    3.9% Mar 2012
    05 Mar 2012


    5.0% Apr 2013
    18 Apr 2013


    4.0% Jan 2014
    15 Jan 2014


    4.6% Apr 2016
    18 Apr 2016


    4.5% Oct 2018
    18 Oct 2018


    4.4% Jun 2019
    18 Jun 2019


    5.9% Oct 2019
    18 Oct 2019


    4.5% Apr 2020
    18 Apr 2020


    5.0% Oct 2020
    18 Oct 2020


    5.4% Mar 2025
    13 Mar 2025

  12. #42
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    From Zerohedge, via Brian Lucey

    submitted by Tyler Durden on 08/17/2010 06:48 -0500

    Irish CDS, which recently was trading wide of 300, tightened materially after the country, most likely with a very direct ECB intervention, managed to place two €0.75 billion auctions, the first a 4% due 1/15/2014, and the second: 5% due 10/18/2020. The Bid To Cover on the first was 5.4, compared to a BTC of 3.1 at the last auction held in May, explained simply by the surge in the rate from 3.11% to 3.627%. The 2020, however, saw the BTC drop from 3.0 to 2.4 as the yield dropped from 5.537% to 5.386%. In other words, the ECB overbid for the near maturity, and likely just put in for a token amount. And for some odd reason, CDS traders see this latest central bank intervention to extend and pretend as a favorable development, and have decided to run away from Irish risk for the time being. The question of how long the ECB can continue this charade is relevant: after all the Fed has just one country to deal with.



    And continuing with Ireland, the country's central bank stated that the net cost of Anglo-Irish to the government may be €22-25 billion, even as it cleared up hypocritically that capital raising via taxing banks' excessive reliance on short-term borrowings would be preferable.


    Of course, the central bank should keep its mouth shut, and be happy that the ECB will continue to support any part of the curve, as in its absence the country would be long insolvent.
    http://www.zerohedge.com/users/tyler-durden

  13. #43
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    P. O'Neill's blog is an enjoyable read on the banking crisis, which is quite an achievement. How your bank manager found himself selling tractors comes into it.

    There are a couple of very useful comments following the blog, on the scale of Ireland's debt.

    http://fistfulofeuros.net/afoe/econo...ul+of+Euros%29

  14. #44
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    The bail out continues
    http://www.rte.ie/news/2010/0817/irishnationwide.html
    there is no way a turkey like Nationwide is of systemic importance

  15. #45
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    Default Re: Irish Bonds and the ECB - Bond Sales Watch - the Risk of Sovereign Default

    Its as much as a full year's tax take now.

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