NTMA raises a further €400m

THE National Treasury Management Agency (NTMA) raised a further €400 million in short-term funding yesterday, through the auction of five and six-month Treasury Bills.

However, the auction – which benefited from the substantially lower yields (or rates of interest at which the country repays the bonds) associated with T-Bills, in this case 1.9% for the five-month bills and 2.23% for the six-month versions – took place on the same day as yields for Irish long-term bonds rose even further, to 6.58%.

Earlier this week, the NTMA successfully undertook the ninth of its planned 11 long-term bond auctions.