Wall Street dealmakers get trampled by PIIGS 10 Oct 2011 The fear and uncertainty over Europe has sent the cost of U.S. credit skyward. By one closely watched gauge, junk bonds are yielding almost five percentage points more than they reasonably should. Given the bureaucratic dithering, bankers and buyout barons may be idle for a while.
Ireland gets good grades but hasn’t passed yet 20 Sep 2011 Dublin is crawling out of the PIIG sty. Irish bonds outshone those of Portugal and downgraded Italy during the summer turmoil. The country is ahead of target on its IMF programme. But it’s still vulnerable to weak global growth prospects and to dysfunctional euro zone governance.