Thursday, October 18 09:07:53
The ISEQ is lower this morning at 3,264, down 9 points as markets have taken today's Chinese growth data fairly well.
The NTMA has a new Treasury Bond issue today and NCB Stockbrokers sees a positive outcome:
Ireland's National Treasury Management Agency (NTMA) is due to sell a further E500m worth of three-month Treasury Bills later today. This is a further illustration of Ireland's successful re-engagement with the debt markets.
Last month the NTMA sold another E500m of Bills at a yield of 0.7pc, receiving bids for 3.03x the amount on offer. This compared favourably with the 1.8pc and 2.8x achieved in the only other sale of Bills this year (in July).
Due to the good performance by Irish bonds of late, we would expect to see a strong outcome from today's sale, with pricing around the 60bps mark given where the December 2012 Treasury Bills and April 2013 Irish government bonds are currently trading according to NCB Stockbrokers.