The National Treasury Management Agency has today completed an auction of €1.25 billion of Irish Government bonds, which are due to mature in 2032 and 2045.

The bonds were sold at yields of between 1.5% and 1.79%, the NTMA said.

The 2032 bond sold at a yield of just 0.778% back in March of this year. The cost of borrowing for countries across the euro area is going up.

After today's auction, the NTMA has issued €5.75 billion so far this year from a planned range of €10-14 billion.

This is down from the €18.5 billion raised in 2021 as the Government expects to spend far less battling the Covid-19 pandemic.

Earlier this week, the NTMA cancelled its planned bond auction for June due to the economy's strong fiscal performance so far this year and the lower Exchequer borrowing requirement estimate for 2022.