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THE NATIONAL TREASURY Management Agency has announced that it is to auction off another €500 million worth of short-term treasury bills this Thursday.
The T-Bills have a three-month maturity similar to those which sold in July at an annualised interest rate of 0.2 per cent.
The issuance is part of the NTMA’s continued re-engagement with the markets but the regularity of the short-term loans means that they have offered little fresh information of late about Ireland’s standing.
“I don’t think more recent auctions have told us a whole lot new about Ireland,” said Investec’s chief economist Philip O’ Sullivan. “We would’ve seen a significant fall in terms of borrowing costs when we initially came back into the markets and more recent auctions have gotten away at very low rates indeed.”
Ireland began re-selling treasury bills in July 2012 at which time the yield was 1.8 per cent, with the interest on the last two auctions being at the far lower rate of 0.2 per cent.
Ireland’s ability to raise it’s own funding will be tested to a greater extent if it were to raise money with a loan of much longer maturity. O’Sullivan says that the NTMA currently has a healthy level of liquidity and does not need to raise funds but would ideally like to make a modest 10-year bond sale of about €1 billion to demonstrate market strength:
The market is anticipating that there will be further long term issuance out of Ireland, possibly before the year end. This tallies with guidance from Michael Noonan and the NTMA. However, given the ample liquidity the State has to hand – it is currently fully funded into 2015 – pricing is likely to take priority over size in any new issuance, with the objective being to consolidate the progress Ireland has made in terms of re-engagement with the markets.
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This is great to see and I im glad they were rescued. Touch and go for a bit they could have been stranded in outer space
Amazing job Elon and President Trump heroes you are.
Well done to Elon Musk a true hero of our generation. Looney leftists out damaging cars in Belfast while Elon is saving lives. We will be on the right side of history. More and more people can see this every day. MAGA.
@Adam H2022: let’s hope President of Peace Trump really goes in hard on that mad dictator putin today. It’ll be so beautiful & joyous to consign that pointless proxy war to the history books & give those brave young Ukrainians the opportunity of reaching adulthood & old age
@Adam H2022: No doubt he was well paid for his rocket and it was not done for humanitarian reasons. In the meantime he is condoning the unnecessary bombings in Gaza. His attitude is probably what do a few lives matter for a cheap bit of real estate.
@Chutes Idiot: President of Peace sanctioned the killing of 330 Palestinians today.
@FoxyBoiiYT: Biden administration is responsible for all of the deaths. Trump has been landed with two wars and the left think it’s Trumps fault lol. Just when I think you lefties can’t get any more stup1d you come out with comments like that lol
@Adam H2022: So Biden is still in charge? You are so utterly braindead as to defy believe. Go simp for your billionaire masters elsewhere
@FoxyBoiiYT: Biden was never in charge as he was actually brain dead. You didn’t notice either as you clearly are as well lol. Shut your leftie hole thinking your tough name calling on an app.
@Adam H2022:
We need about 8 billion ape masks for the joke of the millennium
@Ian Graydon: Only need one.. and I’m sure the orange orangetan will be front and centre upon there return.
@Brian: Orangutan*
@Brian: it’s funny, but did you have this same energy when Biden refused to let Musk bring them back before the election?
@Brian: he & Elon Musk are the only reason they’re even coming home. The astronauts themselves even said as much. The previous administration didn’t want Musk getting credit as he declared his support for Trump instead of Harris so a game was being played with the health & welfare of these astronauts.
@James.s.: cool story bro, but it didn’t happen like that
@Brian: their
@Dermot Blaine: actually….
https://www.youtube.com/live/F86qrlBRVmM?si=z9NHknjzs8uF8580
@Matt D: The poor astronauts. Can you imagine being used as a political football as your life literally hangs in the balance. Democrats and the left are the low of the low. Watch them try to find something wrong with Musk having a massive win again – The left remind of the DUP everyone is just laughing at them at this stage.
@Karen Marten: that nonsense makes you the wnkr
@James.s.: rubbish
@Dermot Blaine: according to Musk and the astronauts it did. And seeing as he is the one responsible for bringing them back, I would believe him.
I’m sure they will be just happy to be home with their families and sleeping in their own beds for a few weeks sureit will be weird for them .
@Karen Marten:
Sure it.
62 and 59? Hmmm. They must be fit. I presume they will be in wheelchairs for weeks what with the muscle atrophy of a zero G environment and the freeze dried dinners and recycled urine….
@N.F. Court: But enough about the Oval Office.
@Sherry Adams – Norn Iron Drag Artiste: it’s ok Joe is gone, getting the care he needs
have your say