Marginal bond yield rise the sole sign of unease in wake of no vote

Bond markets reacted passively to Greece’s decision to emphatically reject its creditors bailout proposals yesterday, with Irish bond yields climbing only marginally.

Early morning trading saw Irish yields fall, setting the country apart from other periphery nations, though the situation did not hold as the day progressed and the Irish 10-year bond yield closed up less than four basis points at 1.6%.

While the early fall in yields offered a welcome reminder that Ireland continues to move away from the likes of Portugal, Italy, and Spain, our improved standing will count for little if a deal to keep Greece in the eurozone is not reached.