merrion street

Speaking on the NTMA’s successfully Treasury Bill auction this morning (17th January 2013) the Minister for Finance, Michael Noonan T.D. stated:

“This morning’s successful treasury bill auction by the NTMA, the fifth such auction since the NTMA returned to the treasury bill market in July last year, highlights the continued improvement in market sentiment towards Ireland. The yield on the 3 Month treasury bills has fallen from 1.8% in July to 0.20% today. The yield of 0.20% on Ireland’s first auction of three-month Treasury Bills of 2013 marks the lowest yield recorded since the NTMA’s introduction of Treasury Bills in March 2009 and is further evidence of Ireland’s progress in re-engaging with the markets following last week’s successful issue of €2.5 billion of longer-dated bonds.

It is clear from this morning’s auction that the markets are reacting very favourably to our strong programme implementation and the commitment from the Heads of State and Government last year to break the negative links between banks and sovereign. There is a growing demand for Irish debt on both the primary and secondary markets and Ireland’s 5 Year bond opened this morning at below 3%, the lowest level since 2006 for a 5 year bond”

Notes to editors

Yield and Cover on Ireland Treasury Bills auctions 2012 - 2013

Maturity Amount Yield Cover

15 October 2012 €500m 1.80% 2.8 times

17 December 2012 €500m 0.70% 3.03 times

21 January 2013 €500m 0.70% 3.6 times

18 February 2013 €500m 0.55% 4.12 times

22 April 2013 €500m 0.20% 3.8 times