The National Treasury Management Agency today sold 10-year debt at a negative yield for first time when it auctioned €1 billion at a rate of -0.051%.

The rate, or yield, was below the marginally positive yield it paid at the last regular auction in July. 

The auction received twice as many bids as the value of the paper on offer, increasing the NTMA's total issuance of benchmark bonds since the start of the year to €12.25 billion. 

The debt agency has set a target to raise €14-18 billion from bond sales this year.