NTMA Bond Auction 18 May 2010 - Who Bought The Bonds ?

[C. Flower]

Another Irish Bond Sale - but who bought the Bonds - the ECB ??

18/05/2010 - 10:18:17

Two government bonds were this morning auctioned by the National Treasury Management Agency raising a combined total of €1.5bn, the NTMA said.

Two bonds were offered in the auction, the 4.0% Treasury Bond 2014 and the 4.5% Treasury Bond 2020. The overall total amount of the two bonds offered in the auction was in the range of €1bn to €1.5bn.

The NTMA said it had decided to issue a total of €1.5bn - €750m for each bond - as the total bids received amounted to €4.63bn, or 3.1 times the maximum amount on offer in the auction.

The 2014 bond was sold at an average yield of 3.11% while the 2020 bond was sold at an average yield of 4.72%.

Today’s auction brings the total funds raised from the bond market in 2010 to €13.2bn, or 66% of the NTMA’s bond issuance programme for the year, the agency said.

In addition to the funds raised in today’s auction, the NTMA currently has cash balances in excess of €20bn.

The NTMA said it will continue its regular series of monthly bond auctions with the next auction scheduled for June 15.


Read more: http://www.breakingnews.ie/business/bond-auction-raises-15bn-458095.html#ixzz0oH6X3rt1

[Digout]

I'd say Anglo, BOI and AIB bought a lot of them.

[C. Flower]

I'd say Anglo, BOI and AIB bought a lot of them.

With ECB funds?

3 X oversubscribed.

[Digout]

With ECB funds?

3 X oversubscribed.

Possibly with ECB funds. We need to see a detailed break down of the demand also. Also, the rate is seriously higher than germany, so its not great news.

[C. Flower]

Possibly with ECB funds. We need to see a detailed break down of the demand also. Also, the rate is seriously higher than germany, so its not great news.

But not at its worst, which suggests intervention.

[Digout]

But not at its worst, which suggests intervention.

On average its 1.8% ahead of Germany, thats pretty bad...

[Cassandra Syndrome]

It was the ECB in one shape or another, despite the "oversubscribes" mullarkey they went for of a yield of 4.72, the highest this year.

This would have been a failed bond auction without EU intervention. The Ponzi scheme just got Ponzier.