Irish bond yields hit highs
The yield — or interest rate demanded by bond investors — on Irish Government debt soared above the 10% mark (for both two-year and 10-year bonds) with concern also growing that a permanent solution to the fiscal crisis currently dogging the eurozone will not be found in the two-day Brussels think-in.
The interest rate on two-year Irish bonds rose to 10.7%, before falling slightly to 10.6% (having climbed from just over 9% in the last week); while the yield on ten-year bonds was just below 10.1%. Yesterday marked the first time since before the introduction of the euro that yields on Irish bonds have been above 10%.
