10-year bond sale shows ‘broad trend for Ireland remains positive’

The Government’s recent 10-year bond issue was well received by international investors and the 4.15% yield offers a stable multi-year funding programme, says Guy Monson, managing partner of the Swiss private bank, Sarrasin.

“The broad trend for Ireland remains positive. The trend in unit labour costs is improving and the current account is improving so the hope is for more of the same in the future.”

Mr Monson argues that for a comprehensive resolution to the eurozone crisis, all periphery countries will have to improve their unit labour costs which will in turn improve the current account balances of these countries.