Irish/Bund yields widen to +600bp

Bond yields moved above 8 per cent this morning, despite reassurances from Minister for Finance Brian Lenihan in recent days that Ireland would not need to access a bailout fund.

At 1.04pm, the yield on the Irish 10-year Government bond was 8.284 per cent, 0.345 per cent higher than yesterday’s close of 7.939 per cent.

Bonds in Ireland, Portugal and Greece have plunged since European Union leaders agreed on October 29th to consider German Chancellor Angela Merkel’s proposal for a permanent rescue mechanism as of 2013 that would involve debt restructuring with losses for private holders of sovereign bonds.

Irish Times

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell