Davy: Irish bonds due a ‘breather’

Dublin: Irish bonds may be due “a breather” after outperforming “all other peripheral markets by some distance over the past few weeks,” according to Davy.

With the yield on Irish five-year sovereign bonds about 485 basis points lower than Portuguese debt some investors “who put this trade on a few weeks back may now be thinking of taking profits and even reversing the trade,” said Eamonn Reilly, a bond trader with Davy.