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NTMA auction e500m

THE National Treasury Management Agency (NTMA) completed an auction of Irish Treasury Bills worth €500m in a key event that was closely watched amidst the Cyprus turmoil.

But investors were not put off by the unsettled condition in Europe and the total bids received amounted to €1.706bn, which was 3.4 times the amount on offer.

The Treasury Bills were sold at an annualised yield of 0.24pc.