Irish Debt Slides on Deficit Woes; Greek Bonds Rally After Poll

Irish bonds tumbled for a 10th consecutive day and the extra yield investors demand to hold the debt instead of benchmark German bunds reached a record on concern the nation is struggling to redress its budget deficit.

German 10-year bunds rose as stocks fell, driving investors to the euro region’s safest assets as European Union Economic and Monetary Affairs Commissioner Olli Rehn discusses spending cuts and tax increases with officials in Dublin. Greek bonds rallied after Prime Minister George Papandreou ruled out calling a snap election after a first-round victory in local polls. Portuguese bonds weakened, pushing the yield difference over bunds to a record high, before the nation sells debt this week.