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NTMA show little respect for those who bought bonds

The National Treasury Management Agency's Mark Merrigan made a strange intervention last week, telling the Association for Financial Markets in Europe's Annual Government Bond Conference in Brussels that real-money investors are returning to the Irish bond market.

"A lot of the hedge-fund money, the fast money, has moved on," Bloomberg quotes Mr Merrigan as saying.

"We are seeing a lot more real money participate in the Irish bond market."

Is it really wise to dismiss those who bought bonds over the past year or so and helped push down yields to two-year lows as just fast money or hedge-funds when the Government has been trying to convince investors for months that Irish bonds had turned a corner?

Indo Business