The CEO of Ireland’s debt agency has likened current Irish default fears to the ‘millennium bug’ according to Reuters via Alphaville:
IRISH DEBT AGENCY CEO SAYS MKT CONCERN ABOUT FUNDING CHALLENGES OF IRISH BANKS IS LIKE EARLIER HYPE ABOUT “MILLENNIUM BUG”
Meanwhile, Irish bond yields just hit a new record, as we highlighted in this morning’s First Look. The 10-year yield is currently sitting at 6.55%, which is a steal should Irish fears prove to be just another paranoia. Spain afterall was able to get its respect back in the bond market, perhaps Ireland could pull it of as well.
(Screen grab via Alphaville)