The National Treasury Management Agency has said it plans to auction €1 billion of 10-year bonds on Thursday. 

The NTMA sold €3 billion of 10-year debt in January, covering as much as half of its planned issuance for 2016. 

Meanwhile, Irish 10-year bond yields dipped today as an upgrade to the country's credit rating by Fitch countered selling pressure ahead of what is expected to be a close-run election on February 26.

Fitch raised Ireland by one notch to A on Friday night.

The Irish economy is forecast to be Europe's best performing for the third successive year in 2016 and Fitch cited growth last year of about 7% and improving debt dynamics as key drivers for the upgrade. 

The move will not trigger any buying by investors tracking bond indices. A Moody's upgrade of its Baa1 rating could have a bigger impact than the Fitch move.

But analysts said it should provide some support for Irish bonds.

Irish 10-year bond yields were two basis points lower at 0.99%. 

In recent weeks, the bonds have underperformed those of high-rated countries commonly referred to as "core", such as France, but also those of highly indebted "peripheral" countries such as Italy and Spain.

Investors are also nervous about an impending referendum that could see Britain, one of Ireland's biggest trading partners, leave the European Union. 

Major funds, such as Aberdeen Asset Management, have exited overweight positions in Irish debt.  

Franklin Templeton's Michael Hasenstab, who bought 10% of the Irish bond market after the country was bailed out, told Reuters on Friday that the recent underperformance was "short-term noise".

He did not comment on the election, but praised the country's "strong" economy and dismissed any lasting fallout from the Brexit debate. 

Hasenstab has recently exited his position in Ireland, having made hefty profits on his 2011 bet.