NTMA sells €500m of Treasury Bills at lower rate than last auctionFriday 20 September 2013 07.54
The National Treasury Management Agency has successfully auctioned €500m worth of three-month Treasury Bills.
The bills were sold at a yield of 0.18%. This compares to a rate of 0.2% at a similar auction in July.
The agency said it received bids worth over €1.67 billion at today's auction, 3.3 times the amount on offer.
Owen Callan, senior fixed income strategist at Danske Bank Markets, said he expects the NTMA to return to monthly issuance of longer term debt in the fourth quarter of 2013 as it seeks to fully normalise its market funding heading into 2014.
''Today's auction results underscore the continued demand for Irish Government securities from international investors that we have seen over the course of 2013, and so bodes well for these monthly auctions when they do begin again,'' he added.