New Day, New Highs

September 23rd, 2010 by Belisarius

Irish and Portuguese 10 year government bond yield spread versus same maturity German keep on rising. Latest rumors are that tha Anglo Irish creditors will not be paid off in full.

Ireland auctioned February 2011 and April 2010 bills today; bit to cover for February bills fell from 9.4 times on previous auction to 4.1 times; bit to cover for April bills fell from 11.7 times on previous auction to 5.4 times.

Chart 1. Ireland vs. Germany 10 Year Government Bond Yield Spread

Source: Bloomberg

Chart 2. Portugal vs. Germany 10 Year Government Bond Yield Spread

Source: Bloomberg

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