"Strong demand" for Irish govt debt of €1 billion.

[feargach]

UPDATE 1-Ireland's 1 bln euro bond sale gets strong demand - Forbes.com

Demand was much stronger than at the last auction on April 21, with the bid to cover ratio on a 4 percent 2014 bond jumping to 4.8 from 1.6 last month. A reopened 2019 bond was covered 1.8 times, still higher than the paltry 1.1 ratio for a 2018 bond in April.

David Schnautz, a bond analyst at Commerzbank in Frankfurt, said the successful sale bode well for preventing a buyers' strike emerging for euro zone government debt.

'The fact that Ireland was able to raise the maximum amount of the intended supply via an auction and that (it) managed to tilt the distribution between the two bonds to the longer end indicate growing confidence of investors in Ireland's ability to fund the ballooning deficit going forward,' he said.



So will the dozens of posters claiming that we are unable to borrow to prevent economic implosion say "Sorry, we were wrong?"

[BodyofEvidence]

UPDATE 1-Ireland's 1 bln euro bond sale gets strong demand - Forbes.com

Demand was much stronger than at the last auction on April 21, with the bid to cover ratio on a 4 percent 2014 bond jumping to 4.8 from 1.6 last month. A reopened 2019 bond was covered 1.8 times, still higher than the paltry 1.1 ratio for a 2018 bond in April.

David Schnautz, a bond analyst at Commerzbank in Frankfurt, said the successful sale bode well for preventing a buyers' strike emerging for euro zone government debt.

'The fact that Ireland was able to raise the maximum amount of the intended supply via an auction and that (it) managed to tilt the distribution between the two bonds to the longer end indicate growing confidence of investors in Ireland's ability to fund the ballooning deficit going forward,' he said.



So will the dozens of posters claiming that we are unable to borrow to prevent economic implosion say "Sorry, we were wrong?"

i dont see needing to borrow billions as good news but then....

[youngdan]

It is anything but a stronger demand. If it were a stronger demand then the interest rate would not be higher than last months.

There is a difference between more demand and demand willing to pay a higher price, which they didn't here.

[feargach]

It is anything but a stronger demand. If it were a stronger demand then the interest rate would not be higher than last months.

There is a difference between more demand and demand willing to pay a higher price, which they didn't here.

David Schnautz, a bond analyst at Commerzbank in Frankfurt, said the successful sale bode well for preventing a buyers' strike emerging for euro zone government debt.

'The fact that Ireland was able to raise the maximum amount of the intended supply via an auction and that (it) managed to tilt the distribution between the two bonds to the longer end indicate growing confidence of investors in Ireland's ability to fund the ballooning deficit going forward,' he said.
...

'The risk appetite of the funding market towards Ireland and towards banks in Ireland has improved quite significantly over the past 4-6 weeks,' John O'Donovan, chief financial officer at Bank of Ireland ( IRE - news - people ) said at the presentation of the banks' full-year earnings on Tuesday.

Ireland will hold another bond auction on June 16 and a further announcement on auction plans for the third quarter will be made at the end of next month.

The last graph I saw showed interest rates down dramatically over last month's. Have you a different graph?

[Digout]

It does not say who bought them. I'd love to know what % were not bought by Irish banks ( with our bailout € ) and the ECB.

How much did we give AIB and BOI recently?

[Digout]

Good News : Ireland Inc borrows billions to pay for a bloated public sector.

Yup, get the pints in lads, sure this is like winning the world cup.

[feargach]

Good News : Ireland Inc borrows billions to pay for a bloated public sector.

You know who dramatically reduced their "bloated public sector" lately? Latvia. You know how badly that worked out? Their GDP is down 18% in 3(!!!!) months.

The fact we haven't followed their lead is, in fact, very good news. Every Irish person should be breaking out the bubbly.

[Fr. Hank Tree]

You know who dramatically reduced their "bloated public sector" lately? Latvia. You know how badly that worked out? Their GDP is down 18% in 3(!!!!) months.

The fact we haven't followed their lead is, in fact, very good news. Every Irish person should be breaking out the bubbly.

No, we've gone 1 better and raised taxes. Watch GDP as that starts to kick in.

[Digout]

You know who dramatically reduced their "bloated public sector" lately? Latvia. You know how badly that worked out? Their GDP is down 18% in 3(!!!!) months.

The fact we haven't followed their lead is, in fact, very good news. Every Irish person should be breaking out the bubbly.

And the only reason for this is because they cut the public sector? Or because the IMF are there ?

[feargach]

And the only reason for this is because they cut the public sector? Or because the IMF are there ?

The cuts were, indeed, IMF-ordered. And the cuts were extremely destructive, wrecking good businesses and tearing the economy apart.

They now realise, too late, that they should have told the IMF to go f&&k themselves. But the IMF said everything would be fine if they just cut their "bloated" public sector.