The hottest bailed-out country in the Eurozone is IRELAND.
Today’s PMI came in at 53.1, as production increased at the fastest pace in 11 months, while manufacturing improved at the fastest pace in 12 months.
While unemployment in the Eurozone just hit a brand new record, Irish unemployment of 14.6 per cent stayed flat, and is below the 14.8 per cent where it was in March.
Ireland currently is under a bailout and doesn’t fund itself on the market, but yields on its bonds are trading way lower.
Here’s a look (via Bloomberg) at the Irish 2-year yield.
It’s come way off recent highs.
Meanwhile, Ireland has been seen as one of the big winners in the post EU-summit world, as there are new opportunities to restructure the recapitalization of the country’s banks (which is how the government got into trouble).