I listed Ireland in two of my surprises for 2013. I wrote that Ireland’s government bonds do not outperform again. Greece outperforms this year. I also wrote that Ireland goes to OMT. The first prediction is probably more controversial than the second now that Ireland has issued its benchmark bond with success. There are questions about Ireland's success though.
The Telegraph reports that, "traders said the new debt would yield around 4.15pc, compared to a yield of 3.7pc on Ireland's current benchmark 2020 bond. At the height of bailout fear less than two years ago, the yield on the 2020 bond had stood at more than 15pc." I would call this success. Like me, Divyang Singh at IFR believes the next stop for Ireland is OMT. Let's review the situation to OMT.
First, getting to OMT and maki...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.