NTMA 'likely to raise less than it hoped at bond auction'

Commentators are expecting the National Treasury Management Agency (NTMA) to raise less than its aiming for in a bond auction this morning.

The NTMA wants to raise €1.5bn for the public Exchequer, but it is expected the agency will raise closer to €1bn, because the interest rate they will have to offer will be high.

Irish Times economics editor Dan O'Brien said the deficit in the country's economy, the banking costs and the recent political uncertainty were all factors in adding to "a sense of fragility" in the market.