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March edition of the Banking and Treasury Report 981.79 KB

The outbreak of the coronavirus continues to disrupt global supply chains and the financial markets. Unsurprisingly, the equity markets are bearing the brunt of the initial negative sentiment with the three equity indices that we track (ISEQ, FTSE and DOW) all in significant negative return territory. Bond prices are up again (as interest rates have fallen) with Irish 10-year rates now negative -0.15%, which is an all-time low. Oil prices have also fallen off a cliff. This is covered in more detail in Section 4.This month’s focus in Section 5 is a review of the Banking Market. While the banks appear to be taking a proactive and supportive approach to assisting businesses, the coronavirus is going to make credit availability tighter. We would encourage clients to act now and make contact with your bank to ensure you get the specific support you need as quickly as possible. The government has also announced a number of measures to help individuals and businesses, including an extra €200m funding through SBCI.Please get in touch with our Corporate Finance team if we can be of any assistance.

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THE TREASURY HUB UPDATE - FEBRUARY 2020 1.19 MB

We bring you the second Banking and Treasury Report of 2020 as part of THE TREASURY HUB. Brexit came back onto the agenda at the end of January as the UK officially entered into the transition period. The general election kicked into gear here in Ireland with a lot of spending promises being made, all of which appear to be predicated on an orderly exit deal for the UK…. an assumption which may yet prove to be flawed.From an investment perspective the year got off to a negative start with the three equity indices that we track (ISEQ, FTSE and DOW) all deteriorating in January and a lot of the blame being attributed to the outbreak of the coronavirus in China. EUR/GBP held around EUR/GBP0.8450, especially as the UK exited the EU but with the “hard line” opening negotiation position being taken by PM Johnson last week, we have seen GBP lose 1p against EUR in a single day and move back to EUR/GBP0.8500. We expect further GBP weakness in the weeks ahead. This month’s focus in Section 5 is on the area of Environment, Social and Governance (ESG).

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The Treasury Hub Update - January 2020 1.23 MB

We bring you the first Banking and Treasury Report of 2020 as part of THE TREASURY HUB. This report looks back at 2019 trends and looks forward at possible 2020 developments. Brexit dominated for most of 2019 while politics dictated worldwide events in general. The UK elected a new Prime Minister while the US presidential election started to gear up. Ireland will also see a new government elected in 2020.From an investment perspective it was a good year for equity investors, a bad year for bank deposits, a good year for bond investors while on the currency front EUR/GBP bounced around quite a bit but EUR/USD remained very stable again. Section 5 of this report focuses on the prospects for 2020.

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The Treasury Hub - November 2019 Report 1.28 MB

This is the November 2019 issue of the Treasury Hub report, as we continue to bring you our regular Banking and Treasury Report as part of THE TREASURY HUB.The deadline date for the UK to trigger its exit from the EU came and went. The next date is January 31st (or sooner if agreed by parliament) but with an election now called, there remains a risk that “no deal” could still arise. The EUR/GBP exchange rate has held steady around EUR/GBP0.8600, a level that broadly reflects a deal, but the risk is very much on GBP weakening again in the event of no deal.Regardless of Brexit fatigue, it will continue to dominate the business landscape in 2020. Even if the UK meets the transition exit date of January 31st, the current scheduled date for leaving the EU is December 31st 2020, with a possible 2-year extension if requested. In that regard, 2020 budgets will have to reflect this continuing uncertainty. Make sure to read section 5 which focuses on the economic outlook and how it may impact on your company budgets for 2020.

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THE TREASURY HUB - OCTOBER 2019 REPORT 1.03 MB

This is the October 2019 issue of the Treasury Hub report, as we continue to bring you our regular Banking and Treasury Report as part of THE TREASURY HUB. This week has seen the release of the UK alternative view on how Brexit may happen. A general election before Christmas is almost a racing certainty now. The EUR/GBP exchange rate continues to ebb and flow with markets views on probabilities of a hard or soft Brexit. Short-term rates are trapped in low territory and look like staying there for the foreseeable future. Worries surrounding economic growth with no inflationary pressure has led to Eurozone longer-term interest rates also easing significantly in 2019.

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The Treasury Hub - September 2019 Report 1.05 MB

This is the September 2019 issue of the Treasury Hub report, as we continue to bring you our regular Banking and Treasury Report as part of THE TREASURY HUB.As we head into autumn, the focus is firmly on Brexit and how it may play out. Over the summer, the main casualty was the EUR/GBP exchange rate. Section 5 of this month’s report focuses on Brexit. If your company hasn’t undertaken a Brexit impact assessment, then you are running out of time. Companies will commence work on their 2020 budgets soon and the backdrop to such preparation is largely negative at this point in time.

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Brexit Resources - Clear Customs - Free Customs Training 175.7 KB

For the customs intermediary sector, and other businesses, taking steps now to train key staff on how to effectively complete a customs declaration helps pre-empt Brexit related customs challenges. Supported by Getting Ireland Brexit Ready, the Clear Customs free training initiative is delivered through Skillnet Ireland at several training locations nationwide.

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Brexit Resources - InterTradeIreland - Brexit Vouchers 155.55 KB

Cross-border traders can now avail of two vouchers from InterTradeIreland which are available to provide financial support and to help you understand Brexit and implement changes identified in your business.

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Sterling Update - 28 August 2019 376.19 KB

Boris Johnson to ask the Queen to suspend parliament from mid-September. Any prospects of a calm September and possible solution in that timeframe to the backstop has just disappeared.

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The Treasury Hub - July 2019 Report 895.64 KB

This is the sixth Banking and Treasury Report of 2019 which we bring to you as part of THE TREASURY HUB. There has been a rapid fall off in interest rates in the main economic areas over the past two months, which is quite concerning for the macroeconomic outlook. The appointment of Christine Lagarde as ECB President is currently being assessed by the markets. GBP has weakened to EUR/GBP0.9000 and it is difficult to see anything other than GBP remaining weak for now.

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The Treasury Hub - June 2019 Report 1.1 MB

This is the fifth Banking and Treasury Report of 2019 which we bring to you as part of THE TREASURY HUB. GBP has emerged as a risk again in the aftermath of the UK local and European elections. Euro interest rates have also heavily retreated over the past 4-6 weeks which is positive from a debt management perspective but negative on the economic outlook front.

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The Treasury Hub - May 2019 Report 1.1 MB

This is the fourth Banking and Treasury Report of 2019 which we bring to you as part of THE TREASURY HUB. Brexit had disappeared off the agenda for a short spell but is back in vogue after the local elections in the UK. Interest rates remain remarkably low and static while the foreign exchange markets have been quiet ….almost too quiet!

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