Ireland Bond Yields And CDS Surge, Bailout Being Planned

The yield on Irish debt continues to surge this morning, as the market for much of the sovereign’s debt has dried up.

According to @thejournal_ie, the country 10-year bonds are now yielding 8.921% while the 2-year is yielding 6.6%. Earlier the yield curve inverted, with the 4-year at 8.241% and the 6-year at 8.136%, according to @LorcanRK.

A plan is in development to sort out the Irish problem to provide a Greek style bailout to Ireland, according to Handelsblatt (via http://imarketnews.com/node/22262).

CDS on Irish sovereign debt has also spiked this morning, to 617.2 bps on 5-year CDS, according to CMA.

Check out this chart from Bloomberg on the 10-year, now at 8.91%.

10 Year Ireland 1111

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