Yes Vote Fails to Stop Increase in Borrowing Costs!

Glen_Of_Hope

Irish borrowing costs rose today despite a resounding yes vote:

http://www.bloomberg.com/quote/GIGB9YR:IND

Irish Bond Yields rose TODAY by 8 basis points to an unsustainable 7.44%.

Oh dear, Ireland is heading into another bailout with water charges, property taxes and land taxes. This despite the fact the Anglo Bank debt has been consistently ignored by the Kenny administration - the single biggest hole in market confidence towards Ireland.

Micheal Martin previously alleged that a no vote would cause an increase in our bond yields. Well guess what - he was wrong: our bond yields still increased!

The American Chamber of Commerce decided to intervene in this society by demanding Ireland votes yes in return for ''investment''. Instead of keeping out and minding their own business, they have shown how the Irish are weak characters easily led by short-term gains (money). So glad I'm not spending my money in Ireland.

P.S. I respect the outcome.

Sierra Oscar

Do you think that our yield would have fallen if we voted no?

K-9

They've been rising for the last two weeks or so which would suggest something else is at play.

Sand

If they had fallen you can be sure the usual suspects would have been trumpeting it as magical result of the Yes vote. As I noted -the bond markets couldnt care less about the Irish fiscal referendum. Couldn't. Care. Less.

I for one miss the daily updates from the "Rise and fall and Rise..." thread.

Scofflaw

And the 2 and 5 year are both down, which illustrates the utter pointlessness of the OP.

I appreciate people may be a little bitter, but now the referendum is finished, the usual quality standards come back into force. The "oh so clever" sneers and japes will have to go elsewhere.

moderately,
Scofflaw