Ireland Leads Surge in Sovereign Risk to Record on Budget Woes
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Ireland led a surge in the cost of insuring sovereign debt to a record as the government struggles to convince investors it can avert a European Union-led bailout.
Credit-default swaps on Ireland rose for a ninth day, soaring 18 basis points to 587, according to data provider CMA. The Markit iTraxx SovX Western Europe Index rose 6.5 basis points to a record 171.5.