Ireland back in market with €500m treasury sale

The National Treasury Management Agency will auction a €500m three-month treasury bill tomorrow to pave the way for the issuance of longer dated debt in the first quarter of 2013.

Tomorrow’s auction is the Government’s first foray into the sovereign debt markets since the EU/IMF bailout was agreed in Nov 2010.

Merrion Stockbroker economist Alan McQuaid expects the rate on tomorrow’s treasury bill auction to come in at 3.50%-4%.