Bonds sale nets €1.5bn for NTMA

THE National Treasury Management Agency (NTMA) has maintained its earlier momentum in chasing its funding targets for this year, by raising another €1.5 billion through the sale of Irish Government bonds.

Yesterday’s bond auction – the fourth of a scheduled 11 for this year – covered two bonds, with the total bids received amounting to three times the maximum amount on offer in the auction.

This, according to Alan McQuaid, chief economist with Bloxham Stockbrokers, shows how far Ireland has come, in terms of recovery, in recent months.