"The cost of insuring Irish sovereign debt against default fell Thursday and the extra yield investors demand to hold Irish debt rather than German bunds also dropped, as a financial-aid package for the country began taking shape. Irish central bank governor Patrick Honohan said Thursday that negotiations to defuse the debt crisis will likely lead to Ireland receiving a loan of “tens of billions” of euros from its European Union counterparts. Officials from the EU, the European Central Bank and International Monetary Fund are in Dublin to examine the country’s finances and its banks. Irish five-year sovereign credit default swaps held onto their early gains and were around 0.40 percentage point tighter shortly before 1100GMT at 4.85 percentage points, according to Markit. That would represent a $40,000 decline in the annual cost of insuring $10 million of Irish debt for five years. Irish sovereign bonds were also stronger, with the yield premium between Irish 10-year debt and German bunds dropping 0.156 percentage points to 5.365 percentage points, according to Tradeweb. A trader said there had been buying interest in Irish bonds Thursday, but that the falling cost of Irish CDS was “probably on short covering” rather than a result of investors trying to add exposure to Irish sovereign debt by selling default insurance, the trader said." blogs.wsj.com/marketbeat/2010/11/18/ireland-cds-improve-as-support-takes-shape/ Das erklärt den heutigen Nordwärts-Drang. Das "Hilfspaket" (wird wahrscheinlich Unwort des Jahres) wird geschnürt und alle freuen sich. Fragt sich nur, wann sie alle wieder aufwachen und zu sich kommen. Denn der Fall wird kommen. Und dann geht's rapide wieder 'gen Süden. Hey, ab in den Süden - den Milliarden hinterher, ey jo was geht... www.youtube.com/watch |