Wednesday July 15, 2020

Irish debt risks losing hold of world-beating rally

Irish bonds delivered the world’s best returns last week as investors bet a European agreement to save banks will reduce the country’s debt burden. The euphoria may be premature.

9th July, 2012
2
NTMA headquarters: Irish bond yields needs to be close to 5 per cent before Ireland can sell bonds in the market, say analysts.

Irish bonds delivered the world’s best returns last week as investors bet a European agreement to save banks will reduce the country’s debt burden and ease its ability to sell debt. The euphoria may be premature.

“We are toward the end of the rally,” said Harvinder Sian, a senior fixed-income strategist at Royal Bank of Scotland London. “While getting the bank costs taken over by the rescue mechanism is a very...

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