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IRELAND HAS MADE another visit to the international money markets, with the National Treasury Management Agency (NTMA) raising €500m in short term cash this morning.
The treasury bills, or T-bills, will be repaid after three months. The indicative premium on the payback is around 0.20 per cent, although this is calculated as if the money were to be repaid after a year. The actual interest cost will be less than this.
The short term money raised this morning is the latest in a series of fundraising exercises that have been completed since Ireland first returned to the short term money markets in July 2012. The yield on the short term bonds has fallen to its current level from 1.80 per cent at the first auction.
High demand
Demand for the bonds amounted to €1.902bn in bids lodged, some 3.8 times the amount on offer.
This mornings fundraising is separate from a target of around €8bn that the NTMA has set to raise from the markets in long term money this year. Those funds will only be repaid after ten years.
The auctions are usually held on the third Thursday of the month for around €500m. Targets for the auctions can rise as high as €1bn, but it is thought that the NTMA will restrict their ambitions to sales of €500m for the forseeable future.
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There was no ceasefire, so to report as such is just false. Ukraine categorically said they would not observe one so both sides continued bombing eachother. That’s all there is to it.
@Martin McGowan: exactly. As much as I disagree with what Russia has done in invading another country, this is a war of propaganda. Right or wrong you have to realise that both sides are purporting propaganda.
@Ciaran: this is a war. Propaganda has always been a part of war and always will be. Everyone should know this by now.
@Paul Furey: Ukraine said they wouldn’t observe the Russian ceasefire. Agree on propaganda, but how is this an example of it?
@Paul Furey: yes but the propaganda we see is one sided mainly … western media supporting Ukrainian propaganda, believing all Ukraine say and not believing anything Russia says..
@Ciaran: no one should be listening to what Russia has to say until they leave Ukraine.
@Ciaran: well russia said they woukdnt invade so that was a bad start to be fair
have your say