We have frequently looked at the Irish government bond 10-year yield as calculated by Bloomberg. This measures has now been discontinued and has not been updated since the 10th of October. It has replaced by an Irish government bond 9-year yield.
To calculate a 10-year yield requires that a bond mature in proximity to October 2021. As we can see from the Daily Outstanding Bonds Report from the NTMA we can see that there is an Irish government bond maturing in October 2020 and nothing then until March 2025.
The new nine-year yield is very similar to the previous ten-year yield and the movements are practically the same. Here is the nine-year yield for the past three months.
The sudden, and largely unexplained, drop that took place towards the end of September has now been fully relinquished. Yields are now back to around 8.5% which is where they were for the month in the run-up to the recent fall.Tweet