Debt Management Agency of Hungary has sold less than the expected number of its Treasury bills, in an attempt to curb its national debt problems.  Ireland by contrast has sold all of its available €1.5 billion of government bonds this past Tuesday, a day after its credit rating was cut by Moody's of Frankfurt.  Elsewhere, Spain and Greece also each had success in selling their own Treasury bills, as they too seek effective debt relief solutions

The mood remains positive as to Ireland's economic forecast.  "All in all this auction was yet another successful Irish auction and the downgrade from Moody's did not seem to have any effect," claimed Gustav Bundgaard Smidth, senior analyst at Danske Markets, "We maintain our overall positive view on Irish government bonds,"

Moody's had cut Ireland's rating on Monday citing its high debt burden, weak growth forecast and the high expense of rebuilding its ravaged banks.  The debt management strategy of Ireland has many analysts hopeful and predictive of strong future growth.  Meanwhile the Hungarian debt management agency, the AKK, sold 35 billion Hungarian florints instead of the intended 45 million.

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