Sovereign debt yields are higher across the PIIGS, with Irish paper hit the worst. The 2 year...

|By:, SA News Editor

Sovereign debt yields are higher across the PIIGS, with Irish paper hit the worst. The 2 year +94 bps to 16.55%, the 10 year +26 bps to 12.98%. Smelling that Ireland will not be able to return to the debt markets in 2012, traders will force down bond prices, step in and buy, and then wait for bailout #2. Worked to a 'T' in Greece.