Government sells €100m in t-bills as yields drop to -0.1%

The government sold a total of €100m in 13-week treasury bills at an auction on Monday at an average rate of minus 0.1 per cent, the lowest ever, the Public Debt Management Office (PDMO) said.

Compared to the previous auction on October 30, the average yield fell by 3 basis points, the PDMO, a division of the finance ministry, said in a statement.

Total subscriptions were €257m, which included €149m in competitive bids, the PDMO said.

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