Agency plans to carry on with final two bond auctions

THE National Treasury Management Agency (NTMA) is set to carry on with the final two bond auctions planned for October and November after successfully raising another €1.5 billion in its highly anticipated latest round yesterday.

The agency, which borrows money on behalf of the Government and manages Ireland’s national debt, has stuck with its schedule of 11 bond auctions/borrowing rounds as it aims to raise €20bn this year.

Despite the overall cost of borrowing increasing as the yield on 10-year Irish bonds (the interest rate demanded by investors) has steadily risen.