Irish Bond Surge Sends Yields to Records as Euro Revives

Irish government bonds rose, pushing 10-year yields to a record low, as Europe’s most-indebted nations extend their access to funding markets that are thawing as the region’s four-year financial crisis abates.

Ireland will hold its first bond auction since 2010 tomorrow, having seen its 3.4 percent securities due in 2024 advance for eight straight weeks since they were sold in January. Italy was said to set the size of a 10-year inflation-linked debt via banks at 4.5 billion euros ($6.26 billion), the first offering of the securities for four years. Borrowing costs for banks in the euro-area periphery are at a record low.