SWITZERLAND DATA: CPI Details Keep SNB Expectations On Hold
Jan-08 10:10
Looking at the details of the December Swiss CPI print shows quite a few moving parts behind a headl...
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AUSTRIA AUCTION RESULTS: 2.80% Sep-32 RAGB
Dec-09 10:09
| 2.80% Sep-32 RAGB | |
| ISIN | AT0000A3NY15 |
| Issue Amount | E575mln |
| Previous | E200mln |
| Allotted | E500mln |
| Previous | E115mln |
| Avg yield | 2.807% |
| Previous | 2.705% |
| Bid-to-cover | 2.39x |
| Previous | |
| Bid-to-issue | 2.08x |
| Previous | |
| Avg Price | 99.950 |
| Low Price | 99.901 |
| Pre-auction mid | 99.643 |
| Prev avg price | 100.574 |
| Prev low price | |
| Prev mid-price | |
| Previous date | 24-Nov-25 |
EGB FUNDING UPDATE: Ireland NTMA 2026 funding plan
Dec-09 10:06
- The NTMA has announced that it plans to issued E10-14bln of bonds with one syndication in 2026. This is a bit higher than expected. We had pencilled in a similar target to this year.
- The NTMA notes that this reflects the E15bln maturities due in the coming year, so this is still a net negative funding target.
- There is no guidance on the syndication but we look for a new 10-year Oct-36 bond to be launch via syndication in Q1.
- One syndication is as expected, but it may be larger and/or there may be more auctions.
- 2025's target was E6-10bln which one syndication. E8.5bln nominal was raised this year with E3bln of that being via a syndicated launch of the 30-year 3.15% Oct-55 IGB.
- As expected, and as has been the case in recent years, there are no plans to issue bills.
GILT AUCTION RESULTS: 4.25% Jun-32 Gilt Tender
Dec-09 10:04
| 4.25% Jun-32 Gilt | Previous | |
| ISIN | GB0004893086 | |
| Amount | GBP0.75bln | GBP1.00bln |
| Avg yield | 4.109% | 4.206% |
| Bid-to-cover | 4.35x | 3.72x |
| Tail | 0.4bp | 0.2bp |
| Avg price | 100.798 | 100.250 |
| Low price | 100.775 | 100.236 |
| Pre-auction mid | 100.778 | 100.216 |
| Previous date | 11-Sep-25 |
