Forex Flash: Irish bond auctions impress – Deutsche Bank

Ireland achieved a milestone yesterday with its first 10-year bond auction since its bailout in 2010. Indeed, the country managed to upsize its final deal size to €5.0B (from an initial plan of about €3.0bB), which attracted an order book of over €12.0B across 400 separate accounts. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, the bond was priced at a yield of 4.15% which is now slightly below where Italian (4.66%) and Spanish (4.75%) 10-year bond yields are. Spain has a scheduled auction later today across 2029, 2040, and 2041 maturities.