The National Treasury Management Agency (NTMA) has completed an auction of €500 million of the benchmark 10-Year Irish government bond, the 3.40 per cent Treasury Bond 2024, at a yield of 2.315 per cent.

Taking advantage of positive investor sentiment towards Ireland, the NTMA received total bids amounting to €1.37 billion – 2.7 times the amount on offer.

With the completion of the latest auction the NTMA has raised €7 billion in the bond markets so far this year.

This is equivalent to more than 87 per cent of its funding target of €8 billion for 2014.