Updated probabilities of default and spreads on Irish bonds. As usual, a preventative disclaimer - this is just simple mathematical estimate - what the numbers say. No comment to be added.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXvHnu5bJJP5Cj7bxm-1sNP1QxYrnl6MNXz87iakP9vnqyzougRsfh7gZLZAbROvuwbkFjMJUspKP97-T8d4sGEeT7zaIHi5gUJ7NzMwDuXHBzb4922hzTuWs9snawrwXEsGmShfqkJeOd/s280/Picture2.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtzYurDRkOFXjxP5quNjbtTejGPETWL_SFfrWI9xir8O42Z8mMt22D_l1ddqFlcn5XP66GsYuhB-lfzCAgQIJM8gvSJBQBWz_glVRkCmh21FoubxrZcwHXqjXYhshBNTB40HkhYYOy5J4p/s280/Picture3.png)
Cumulative spreads tell us how much more we are expected to pay for our borrowings over Germany's cost of fiscal deficit financing, over the period of bond maturity. 85% more for 10 years borrowing currently.
No comments:
Post a Comment