State to sell €1.2bn of bonds
The State is to sell between €1bn and €1.2bn of bonds on Thursday, NTMA has announced.
There will be two bonds offered in the auction, 0.9pc Treasury Bonds due to be repaid in 2028 and 1.7pc Treasury Bonds due to be repaid 2037.
The announcement from the NTMA comes as long-term borrowing costs in Germany pulled back from around two-year highs on Monday as bond investors paused for thought after a sharp sell-off prompted by fears about resurgent inflation.
Friday's US payrolls report showed wages growing at their fastest pace in more than 8-1/2 years, fuelling expectations of both higher inflation and more interest-rate rises from the US Federal Reserve than previously anticipated.
US and German 10-year bond yields hit fresh multi-year highs in early European trade on Monday. But without fresh impetus the momentum fizzled, allowing bond yields to pull back.
(Additional reporting from Reuters)