Just a day after we said ‘bond yields hold steady’ this happens:
The Irish ten-year yield as calculated by Bloomberg has fallen below 8.3% – this the is lowest it has been for all of 2011. After a month of oscillating between 8.5% and 8.8% the drop to 8.2% is to be welcomed. Whether it will be maintained is another thing and even at 8.2% they will still have to drop by around half until we can sustainably borrow from these markets. Still, it is another step in the right direction.
The yields in the NTMA’s Daily Report of Outstanding Bonds shows that the actual yields on the bonds are even lower, with most below 8%. Click to enlarge.Tweet