Bond News

Wednesday, February 15, 2017

Auction of Treasury bonds cancelled

The Government Debt Management has decided to cancel the auction of Treasury bonds planned for 17 February 2017.

Monday, February 13, 2017

Auction result of T-bills RIKV 17 0815

Thursday, February 09, 2017

Auction of Treasury bills RIKV 17 0815

On Monday, 13 February at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 17 0815 which mature on 15 August 2017.

Press release (pdf)
Auction terms (pdf) 

Thursday, February 09, 2017

Market Information in February 2017

 By GDM
Wednesday, February 08, 2017

MPC decision on interest rates

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 5%.

Read more 

Monday, January 30, 2017

Auction of Treasury bonds cancelled

The Government Debt Management has decided to cancel the auction of Treasury bonds planned for 1 February 2017.

Friday, January 27, 2017

Consumer Price Index in January 2017

The Consumer Price Index (CPI) based on prices in January 2017 is 436.5 points (May 1988=100) which is 0.57% lower than in the previous month. The CPI less housing cost is 388.0 points, 1.20% lower than in December 2016.

The CPI is 1.9% higher in January 2017 than in January 2016 while the CPI less housing cost has decreased by 0.9% from one year ago.

The CPI compiled in the middle of January 2017, 436.5 points, is applicable for indexation purposes in March 2017. The old credit terms index for March 2017 is 8,619 points.

Read more  

Tuesday, January 24, 2017

Exchange auction results

In the last Treasury bonds auction of the Government Debt Management, the bidders had the option of purchasing securities in RIKB 28 1115 with the sale of RIKB 17 0206, which matures on 6 February 2017. This time the bidders exercised their option to sell 132 m.kr. nominal value.

Tuesday, January 24, 2017

Results of additional issuance of RIKB 28 1115

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 20 January, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase in RIKB 28 1115 for 614 m.kr. Total outstanding nominal value of RIKB 28 1115 after the auction is now 18,646,101,519 kr. Settlement date is 25 January 2017.

Tuesday, January 24, 2017

Government Debt Management securities lending facilities for primary dealers.

According to the Agreements concerning Secondary Market Issuance and Market making in Treasury Securities dated 11 March 2016,  securities lending in series RIKB 28 1115 to each primary dealer will be 1 b.kr. nominal value. These terms shall take effect after 11:00 am on Wednesday 25 January 2017.

Wednesday, January 18, 2017

Auction of nominal bonds RIKB 28 1115

On Friday, 20 January at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds.
A new twelve-year nominal bonds, RIKB 28 1115, will be offered. The bonds are interest-bearing and pay 5.00% interest rate annually every 15 November. The maturity date is 15 November 2028. Description of the bond is attached to this press release and further information can be obtained from the website www.gdm.is. The total amount of accepted bids will be announced after the auction.

Press release (pdf)
Auction terms (pdf) 
Description of Tbond (pdf)  

Tuesday, January 17, 2017

Exchange auction results

In the last Treasury bonds auction of the Government Debt Management, the bidders had the option of purchasing securities in RIKB 20 0205 with the sale of RIKB 17 0206, which matures on 6 February 2017. This time the bidders exercised their option to sell 3,064 m.kr. nominal value.

Tuesday, January 17, 2017

Results of additional issuance of RIKB 20 0205

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 13 January, at the price of accepted bids. This time Primary Dealers did not exercise their right to purchase in RIKB 20 0205. Total outstanding nominal value of RIKB 20 0205 after the auction is now 67,400,000,000 kr. Settlement date is 18 January 2017.

Saturday, January 14, 2017

Fitch revises outlook on Iceland to positive

Fitch Ratings has revised the outlook on Iceland’s long-term foreign and local currency IDRs to positive from stable. The IDRs are affirmed at BBB+. The issue ratings on Iceland’s senior unsecured foreign- and local-currency bonds were also affirmed at BBB+. The country ceiling was affirmed at BBB+ and the short-term foreign-currency IDR and commercial paper (CP) at F2

Report

Saturday, January 14, 2017

S&P raises Iceland‘s long-term ratings to A- on stronger external position

The rating agency S&P Global Ratings raised its long-term foreign and local currency sovereign credit ratings on Iceland to A- from BBB+. At the same time, the A-2 short-term ratings were confirmed. The outlook is stable.

S&P Report

Thursday, January 12, 2017

Auction result of T-bills RIKV 17 0717

Wednesday, January 11, 2017

Auction of nominal bonds RIKB 20 0205 - exchange auction

On Friday, 13 January at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds.
In this auction nominal bonds RIKB 20 0205 will be offered. The total amount of accepted bids will be announced after the auction.
Press release (pdf)
Auction terms (pdf) 

Tuesday, January 10, 2017

Auction of Treasury bills RIKV 17 0717

On Thursday, 12 January at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 17 0717 which mature on 17 July 2017. 

Press release (pdf)
Auction terms (pdf) 

Monday, January 09, 2017

Market Information in January 2017

 By GDM
Friday, December 30, 2016

Government Debt Management Prospect 2017

  • Planned Treasury bond issuance for 2017 totals 45 b.kr. market value.
  • Net issuance of benchmark Treasury bonds will be positive by an estimated 8 b.kr. during the year.
  • The balance of outstanding Treasury bills is estimated to decline by 9 b.kr., to 10 b.kr. at the end of 2017.
  • The Central Bank of Iceland bond will be paid off during the year, and payments will continued to be made on RIKH 18 1009.
  • There are no plans to change the Treasury’s external debt position during the year. 
Friday, December 30, 2016

Quarterly Government Debt Management Prospect - First quarter 2017

First quarter 2017

  • In Q1, benchmark Treasury bonds will be offered for sale in the amount of 10-20 b.kr. market value.1
  • A new nominal ten-year bond series maturing in 2028 is to be launched.
  • It is also planned to issue Treasury bonds in the following series: RIKB 20 0205 and RIKS 30 0701.


1 The sale price or market value refers to the clean price, net of accrued interest. 

Full report

Thursday, December 22, 2016

Consumer Price Index in December 2016

The Consumer Price Index (CPI) based on prices in December 2016 is 439.0 points (May 1988=100) which is 0.14% higher than in the previous month. The CPI less housing cost is 392.7 points, 0.18% lower than in November.
The cost of owner occupied housing (imputed rent) rose by 1.6% (effect on the index 0.26%).

The CPI is 1.9% higher in December 2016 than in December 2015 while the CPI less housing cost has decreased by 0.8% from one year ago.

The CPI compiled in the middle of December 2016, 439.0 points, is applicable for indexation purposes in February 2017. The old credit terms index for February 2017 is 8,668 points.

Read more   

Wednesday, December 14, 2016

Auction of Treasury bonds cancelled

The Government Debt Management has decided to cancel the auction of Treasury bonds planned for 16 December 2016.

Wednesday, December 14, 2016

MPC decision on interest rates

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.25 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 5%.

Read more 

Friday, December 09, 2016

Market Information in December 2016

 By GDM
Friday, December 09, 2016

Auction of Treasury bills cancelled

The Government Debt Management has decided to cancel the auction of Treasury bills planned for 13 December 2016.

Tuesday, December 06, 2016

Results of additional issuance RIKS 30 0701

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 2 December, at the price of accepted bids. This time Primary Dealers did not exercise their right to purchase in RIKS 30 0701.  Total outstanding nominal value of RIKS 30 0701 after the auction is now 73,727,199,659 kr. Settlement is 7 December 2016.

December 09, 2015
MPC decision on interest rates
November 04, 2015
MPC decision on interest rates
September 30, 2015
MPC decision on interest rates
February 04, 2015
MPC decision on interest rates
December 10, 2014
MPC decision on interest rates
November 05, 2014
MPC decision on interest rates
August 28, 2014
Temporary exemption revoked
December 11, 2013
MPC decision on interest rates
November 06, 2013
MPC decision on interest rates
February 06, 2013
MPC decision on interest rates
December 13, 2012
Sale of Government bonds
December 12, 2012
MPC decision on interest rates
September 07, 2012
AUCTION RESULT OF NOMINAL BONDS
April 29, 2011
Signing of Agreements
December 29, 2010
Annual prospect 2011
May 14, 2010
Signing of Agreements
February 23, 2010
Exchange auction results
February 11, 2010
Auction result RIKV 10 0615
January 13, 2010
Auction Result RIKV 10 0517
December 10, 2009
Result - Sale of T-Notes
June 29, 2009
Weekly Economic Briefing
June 22, 2009
Weekly Economic Briefing
June 15, 2009
Weekly Economic Briefing
February 20, 2009
Auction results Treasury Notes
February 11, 2009
Auction announcement - Bills
January 29, 2009
Weekly Web Release
October 13, 2008
Glitnir Weekly
November 06, 2008
Weekly Web Release
November 14, 2008
Weekly Web Release
November 21, 2008
Weekly Web Release
December 03, 2008
Treasury Notes Auction Results
December 08, 2008
Auction announcement
December 10, 2008
Treasury Notes Auction Results

Yield Curve

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Non-IndexedPriceYield
RIKV 17 0418 99.066.44%
RIKV 17 051598.705.93%
RIKV 17 071797.865.52%
RIKV 17 08150.000.00%
RIKB 19 0226107.024.98%
RIKB 20 0205103.225.04%
RIKB 22 1026110.904.99%
RIKB 25 0612119.915.00%
RIKB 28 1115 99.905.01%
RIKB 31 0124114.505.03%
IndexedPriceYield
RIKS 21 0414103.602.86%
HFF150224102.363.11%
RIKS 30 0701108.412.50%
HFF150434108.502.72%
HFF150644114.002.65%

CPI Change

Current Value436.50
12 Months Change*1.91%
3 Months Change*-1.81%
Last Month Change-0.57%
Daily CPI436.50

* Annualized rates