The National Treasury Management Agency (NTMA) has completed an auction of €1bn of the benchmark Irish Government bonds this morning.
The NTMA sold €550m of bonds at a yield of 0.689pc which will mature in 2026, and €450m worth of bonds with a yield of 1.648pc which will mature in 2037.
With the completion of today’s auction, the NTMA has issued €10.5bn benchmark bonds, from its stated target range of €9 to €13bn in the bond markets this year.
While the NTMA could have locked in negative interest rates on shorter-dated paper – meaning investors effectively pay the Irish Government to hold the bonds – investor demand has gravitated to longer-dated maturities.
Article Source: http://tinyurl.com/kbwqb42
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