NTMA set to issue €500m three-month treasury bill

For the sixth month in a row, the NTMA will issue a €500m three-month treasury bill tomorrow.

The move is seen as an attempt to maintain activity as the country prepares to exit the EU/IMF bailout programme in November.

As well as the six treasury bill auctions this year, the NTMA raised €2.5bn through a syndicated tap in January and €5bn through a 10-year bond in March. The yield on Irish 10-year debt was trading at 3.87% at close of trading yesterday, 230 basis points above the benchmark German bund, which closed at 1.57%.