NTMA to auction €1bn in 10-year bonds

The National Treasury Management Agency (NTMA) will make a return to the bond markets this week, announcing on Monday it will sell €1 billion in 10-year bonds this Thursday.

The NTMA will auction €1 billion of the 1 per cent Treasury Bond 2026, its first transaction since June when it sold €500 million in treasury bills at a yield of -0.22 per cent.

The Irish 10-year bond yield has plunged in recent months, as markets responded to the the UK's decision to leave the European Union and rising expectations that central banks, including the European Central Bank will take measures, if necessary, to limit the fallout.

The bond yield has plunged from 0.825 per cent in late June, to just 0.46 per cent on Monday.

The NTMA has raised € 5.6 billion of long-term debt so far this year, within reach of lower end of its full-year targeted range between € 6 billion and € 10 billion.