Ireland’s $4.7 Billion Debt Auction Ignores Greek Crisis

When Greece sparked the euro region’s debt crisis in 2009, it set off a chain of contagion that locked Ireland out of capital markets. Now, even with elections in Greece threatening to plunge that nation into fresh turmoil, Ireland is firmly back in the fold.

The Irish government, which kick-started the euro-region’s 2015 issuance calender with a debt sale via banks today, has seen its 10-year yield tumble to a record-low 1.158 percent this week, from as much as 14.219 percent in July 2011. The nation drew bids from over 160 investors as it sold 4 billion euros ($4.7 billion) of seven-year notes to yield 0.867 percent, the debt office said.