The National Treasury Management Agency has today completed an auction of Irish Treasury Bills, selling the target amount of €750m.

The NTMA said that total bids received for the bills amounted to €1.97 billion, which was 2.6 times the amount on offer.

The Treasury Bills, which have a maturity of six months, were sold at a yield of -0.607%.

Yesterday, the NTMA said it plans to borrow between €16 billion and €20 billion on the bond market in 2021.

This is down from the €24 billion it borrowed in 2020 to help fund the Government's response to Covid-19.