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 todays 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
