merrion street

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

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