Bond Market Highlights: Irish Government Bonds Hit a Record
The yield on Irish government bonds surged to the highest level after Standard & Poor's downgraded the government’s long-term sovereign credit rating to ‘AA-‘, citing the high costs of supporting Ireland’s troubled financial system.
The 10-year Irish/German bond yield spread rose to a record to reach 3.5 percent. The current yields are as follows: Ireland'12 – 2.9 percent, Ireland'14 – 3.9 percent, Ireland'18 – 5.1 percent, Ireland'20 – 5.5 percent.
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