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Irish bonds yields hit record low after upgrade

Published August 18, 2014 9:59 am
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Dublin • Yields on Ireland's government bonds have fallen to record lows following a ratings upgrade, a stunning turnaround for a country that faced bankruptcy in 2010.

The payout on the benchmark 10-year bonds fell below 1.97 percent Monday following last weekend's one-notch upgrade by Fitch. The agency now places an A- grade on Ireland's bonds, just like Standard & Poor's, which upgraded Ireland in June.

The improved credit profile reflects Ireland's bailout exit in 2013 and expectations the economy will grow more than 3 percent this year.



Throughout Ireland's economic boom of 1994-2007, its 10-year bond yield never fell below 2 percent. After its property market collapsed in 2008, the yield soared above 14 percent as investors worried about default, and Ireland was forced to request an EU-IMF rescue loan.

 

 

 

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