THE State's treasury has borrowed €1.5bn to help cover the skyrocketing deficit amid record unemployment and emergency Covid-19 spending. The National Treasury Management Agency (NTMA) yesterday issued €850m in bonds due for redemption in 2029 and €650m more maturing in 2050. The nine-year bonds offered yields, or interest payouts, barely above zero - just 0.043pc. This was the first time since July 2019 that the NTMA's auction of that benchmark 2029 debt security merited a yield above the zero threshold. Their debt securities still command below-zero yields amid the rock-bottom interest rate environment maintained by the European Central Bank.

Source: Irish Independent May 15, 2020 01:30 UTC