Markets
CDS rise after downgrade ’Irish’
LONDON : The cost of insuring Irish debt against default rose further on Wednesday after the country's credit rating was
By
LONDON: The cost of insuring Irish debt against default rose further on Wednesday after the country's credit rating was cut to junk by Moody's rating agency. Five-year credit default swaps (CDS) on Irish government debt rose to 1,049 basis points, up 56 bps on the day according to data monitor Markit.
On Tuesday CDS reached a record high above 1,100 bps.
Ten-year Irish bond yields were almost 70 basis points higher at 14.19 percent, with 2-year yields up over 60 bps at 19.335 percent.
Copyright Reuters, 2011
More Stories
Comments
Comments are closed for this article.