Seems to be talk going round that Ireland will default on bank debt on Monday. Take it for what you will.
Ireland currently guarantees senior debt but its not a blanket guarantee and no longer in force ever since Ireland extended terms when last one expired at the end of September.
Ireland/German 10 year govt bond yield spread widens to new euro lifetime high of 691 bps, 15 bps up on day.
EUR/USD hits new session low 1.3210.
UPDATE: I should probably add that I don’t think there’s any validity in the rumour. As one reader so elequently put it “hogwash” Kinda getting tired of using the phrase “load of old cobblers” to all these market rumours. One day one of them will turn out to be true!!! Just don’t hold your breath…….