NTMA set to delay bond auction

The NTMA is to wait until after the October Budget and closer to Ireland’s planned bailout exit before embarking on another long-term bond auction, although its successful short-term treasury bill sales will continue.

Speaking at the publication of its annual report, the agency’s chief, John Corrigan, said that decisions on potential bond auctions “will be taken later in the year, in the light of prevailing market conditions”.

While the NTMA has this year raised funds through seven short-term treasury bill auctions (the latest occurred yesterday), its only sale of 10-year/long-term debt, since entering the troika’s bailout programme in late 2010, was with a successful €5bn fundraiser in March.