Global Macro Perspectives
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 […]
New highs today for Irish and Portuguese 10 year government bond yield spread versus same maturity German. Greece yields off recent highs. ECB is not managing to put this under control. Chart 1. Ireland vs. Germany 10 Year Government Bond Yield Spread Chart 2. Portugal vs. Germany 10 Year Government Bond Yield Spread Chart 3. Greece vs. Germany […]
Irish 10 year government yield spread versus same maturity German issue rose today to new highs. Both Barclays Capital and Goldman Sachs issued their reports in the last couple of days claiming it is not clear whether Ireland can finance its budget deficit without EU/IMF help. On Friday ECB intervened buying Irish government bonds. FT story: ECB intervenes in […]
Extension of European debt problems returned as a mayor concern this week. Most notable problem is, off-course, much hyped Ireland’s banking system nationalization. Latest leg included spiting up Anglo Irish. Bloomberg: Ireland’s Burial Plan for Anglo Irish Keeps Cost Question Alive. Irish 10 year government yield spread versus same maturity German issue moved to new highs. Chart 1. Ireland vs. Germany […]
After Standard & Poor’s cut Ireland credit rating down one notch from AA to AA- (with negative outlook) the Irish – German 10 year government bond yield spread widened to record high 330 bps. Bloomberg story on Ireland downgrade: Ireland’s Credit Rating Cut by S&P on Costs of Bank Aid. Chart 1. Irish – German 10 Year Government Bond […]
The market looks like today is just an intro. The 1.085 level broken, and technicians say the next target is 1.035 (I don’t believe in that, but since a lot of investors looks at that…). Beside bad initial jobless claims (480.000 vs. 455.000 consensus and 470.000 consensus) the main theme is PIIGS (Portugal, Italy, Ireland, […]