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Bond Markets
Ireland's doing better on the bond markets than everyone else (ish)
The Bank of England has been comparing the borrowing costs of countries in June and again last month – and we’re doing okay.
VIA OUR FRIENDS at Business Insider comes this graph from the Bank of England.
It shows the difference in the price of 10-year bonds for Germany and for some other eurozone countries, with snapshots taken in June and again in November.
And guess who the star performer is… well, yes, the title gave the game away. It’s us.
Ireland is the only eurozone country whose ‘spread’ has reduced between the summer and now – showing that, in relative terms, we’re beginning to be considered less toxic than we once were.
Ireland’s 10-year borrowing costs today stand at 8.2 per cent – though it should be noted that we could have borrowed for 7.8 per cent yesterday; Italy, by comparison, would today borrow for 6.64 per cent.
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