The National Treasury Management Agency (NTMA) is to auction €1 billion of 15-year bonds on Thursday.

The sale of 2030 bonds will be conducted between 8am and 10am on the Bloomberg Auction System and will be confined to recognised primary dealers.

The agency sold €750 million worth of 15-year bonds in June at a yield of 2.2 per cent, higher than the previous auction amid increased market volatility.

Meanwhile, Cantor Fitzgerald says it expects Moody's to upgrade the Republic's debt rating from Baa1.

In May last year, Moody’s upgraded the State’s credit rating by two notches to Baa1 from Baa3, with a “stable outlook”.

It said the State’s growth momentum would “speed up ongoing fiscal consolidation and put the Government’s debt metrics on a steeper downward path than previously anticipated”.