Updated 11.20
Ireland has borrowed €1 billion this morning, its lowest long-term interest rate ever.
The Department of Finance says the State will pay an annual interest rate of 2.967% to repay the money in ten years.
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Investors were willing to lend €2.9 billion, almost three times more than the National Treasury Management Agency was looking for.
It is the second time this year that high demand for Irish bonds has driven down the interest rate paid by the government.
It comes a day after Ireland's cost of borrowing reached a record low at 3.01% for 10 year loans.
David Beaton from Cantor Fitzgerald stockbrokers says bond yields have also been falling in Spain, Italy and Portugal:
