Irish bond yields plunge after Moody's upgrade


Yields on Irish five-year bonds drop 17 bps to 1.63% after Moody's increased the country's debt rating to investment-grade status of Baa3/P-3 from Ba1/NP on Friday.

Moody's, which also gave Ireland a positive outlook, cited two main reasons for its action: Ireland's growth potential, which should bring down debt ratios, and the country's exit from its international bailout.

At one point, Ireland's bond yield was below that for U.S. five-year paper.

ETF: EIRL

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Comments (3)
  • Uncle Pie
    , contributor
    Comments (4322) | Send Message
     
    "Irish bond yields plunge", the headline could just as easily have said, "Irish bonds prices soar".
    Just to put a positive spin on it.
    20 Jan 2014, 12:18 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (10909) | Send Message
     
    It looks like soon Ireland will have the safest banks in Europe outside of Switzerland.
    20 Jan 2014, 01:55 PM Reply Like
  • omarbradley
    , contributor
    Comments (966) | Send Message
     
    well, there are no people left in the country so it's not like you can't start with a blank slate. it is a tax haven that's fer sure...but nothing says "euro QE" more than "Irish rates plunge on news." http://bit.ly/rxAMIO
    20 Jan 2014, 04:46 PM Reply Like
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