Irish bond sale attracts massive demand

|By:, SA News Editor

Ireland's first bond sale since exiting its EU bailout appears set to be a blockbuster, with the government reportedly receiving indications of interest worth €9B for the planned sale of €3B in 10-year debt.

The demand has caused the yield on existing 10-year paper to drop 8 bps to an eight-year low of 3.27% compared with a peak of 15% in 2011.

Based on early orders, the new notes will carry interest of 3.55%.

ETFs: BWX, BNDX, EIRL, IGOV, BWZ, ISHG