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DESPITE LAST week’s successful €600 million sale of Irish short-term debt, the yield spread between Irish and German 10-year bonds remained under pressure yesterday, although markets were subdued due to a bank holiday in Britain.

While the yield of Irish 10-year bonds remains below last May’s highs, at 5.7 per cent, the differential, or spread, between Irish and German bonds has continued to widen, reaching 352 basis points yesterday, the most since at least 1991.