World markets gave a muted reception to the passage of US tax cuts, while bonds steadied having been spooked by the expected blowout in government debt needed to fund the giveaways.

IRISH stocks slid 0.5% yesterday as markets around Europe reacted to less favourable economic data.

EUROPEAN Central Bank president Jean-Claude Trichet has said market bets on an interest rate increase as soon as next month are reasonable amid accelerating economic growth in the 12-nation euro region.