Sovereign CDSs tighten on tough Irish budget

In the early hours of yesterday evening, the Irish parliament began the first round of voting on the latest austerity budget announced by finance minister Brian Lenihan. The proposals lay out €6 billion worth of spending cuts and tax rises for 2011.

In reaction, credit default swap (CDS) spreads on five-year senior Irish debt tightened from 541 basis points at close of play yesterday to 534bp at 1:30pm London time today, according to financial information provider Markit.

During the same

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: