THE State has borrowed €1.5bn in an oversubscribed series of bond sales, raising money at record-low interest rates to fund emergency pandemic spending. The 2027 bonds were auctioned at a negative yield of -0.257pc, while the yield on the 2030 bonds was -0.025pc. The -0.257pc yield on the 2027 bond is the lowest yield ever recorded on a bond issued by the State. Many investment and pension funds are legally required to maintain holdings in government bonds issued by nations with strong credit ratings. Ireland's 2050 bonds issued yesterday offer a yield of 0.602pc.

Source: Irish Independent July 10, 2020 01:30 UTC