Irish Bond Auction a Success

82% of the bonds were purchased by overseas investors.

Ireland returned to the capital markets with a splash on Wednesday, launching its first benchmark bond since the country’s controversial bailout by the European Union.

The market’s embrace of the 5 billion euros 10-year syndicated bond offer is further confirmation that Ireland is on the road back to fiscal health, and outperforming Italy and Spain in terms of yield.

Investors scrambled to get in on the deal, putting in more than 12 billion euros in orders as Ireland takes another step toward regaining full access to the international capital markets.

In January, the country became the first EU bailout recipient to return to the markets, and Wednesday’s benchmark deal will help cement the Irish comeback.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza