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NTMA test waters with Thursday auction

Tuesday, September 11 10:54:39

The National Treasury Management Agency (NTMA) this morning said that it will hold its second auction of short-term Irish debt in the past three months this Thursday.

It said it plans to sell E500 million of three-month treasury bills on September 13, according to a report on Bloomberg.

The NTMA sold E500 million of three-month bills at a yield of 1.80 per cent on July 5.

Irish bond yields have fallen since European Union leaders agreed on June 29 to examine the Irish financial sector "with a view to further improving the sustainability of the well-performing adjustment program."

The yield on the benchmark October 2020 bond stood at 5.62 per cent today, having fallen from 7.13 per cent just before the June gathering of euro-area leaders.