NTMA sells €750m of seven-year bonds
The National Treasury Management Agency has sold €750 million of seven year government bonds at a yield of 0.81pc.
The total bids received amounted to €1.99bn, which was 2.7 times the amount on offer. The NTMA has raised €10.25bn in the bond markets so far this year.
In February, the NTMA raised €500m through the auction of a 15-year bond.
Some €4bn was raised by the NTMA the previous week with the issuing of the first 30-year bond. The NTMA is looking to raise €12bn-€15bn in long-term bonds this year.
Meanwhile, there was much movement on the currency front yesterday, with sterling regaining its losses in the week heading into the British general election, while the US currency has slid to its lowest levels in almost four months a day after stagnant retail sales became the latest data to undermine prospects for Federal Reserve interest-rate increase.
The greenback climbed nine straight months through March on speculation the first hike in almost a decade was looming.
The dollar's decline brought it to the lowest level in almost three months against the Euro.
And yet across the Atlantic, not even a reduction in the Bank of England's quarterly growth forecasts was enough to derail sterling's rebound.
(Additional reporting Bloomberg)