November 24, 2017 / 9:07 AM / a year ago

Irish bond yields hit one-week high as government teeters

LONDON, Nov 24 (Reuters) - Irish 10-year government bond yields rose on Friday to a one-week high and the spread over better-rated German debt widened as doubts grew over the current administration’s tenure.

The Irish government was on the verge of collapse on Thursday after the party, whose votes Prime Minister Leo Varadkar depends on to pass legislation, said it would seek to remove the deputy prime minister in a breach of their cooperation agreement.

The yield on Ireland’s 10-year government bond rose 3 basis points to a one-week high of 0.61 pct. The gap over the German equivalent — the benchmark for the euro zone — was at 25 bps, the widest since Nov. 13.

This week that gap has increased 4 bps, the biggest weekly move in half a year. (Reporting by Abhinav Ramnarayan; editing by Sujata Rao)

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