The National Treasury Management Agency has today sold its target amount of €550m worth of Irish Treasury Bills.  

Total bids received for today's auction amounted to €1.985 billion - almost four times the amount on offer. 

The Treasury Bills, which have a maturity of a year, were sold at a yield of -0.55%.

Earlier this month, the debt agency 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 NTMA  has set a target to raise €14-18 billion from bond sales this year.