by Bill McBride on 7/12/2011 03:38:00 PM
Tuesday, July 12, 2011
Bloomberg reports that Moody's has downgraded Irish debt to junk (Ba1) with a negative outlook (further downgrades possible). This wasn't a surprise ...
“The key driver for today’s rating action is the growing possibility that following the end of the current EU/IMF support program at year-end 2013 Ireland is likely to need further rounds of official financing before it can return to the private market, and the increasing possibility that private sector creditor participation will be required as a precondition for such additional support, in line with recent EU government proposals."The Irish 10 year yield is up to a record 13.3%.
But most yields were down today (see table below).
Here are the links for bond yields for several countries (source: Bloomberg):
|Greece||2 Year||5 Year||10 Year|
|Portugal||2 Year||5 Year||10 Year|
|Ireland||2 Year||5 Year||10 Year|
|Spain||2 Year||5 Year||10 Year|
|Italy||2 Year||5 Year||10 Year|
|Belgium||2 Year||5 Year||10 Year|
|France||2 Year||5 Year||10 Year|
|Germany||2 Year||5 Year||10 Year|
Posted by Bill McBride on 7/12/2011 03:38:00 PM