Onwards and downwards

As predicted by Cathal in the comments the Irish ten-year bond yield as calculated by Bloomberg has indeed dropped below 9% this week.

This has been a remarkable performance.  It would have been reasonable to expect the surge in the yield in the run up to the EU summit to be reversed.  However, a drop from 14% to 11% would have been enough to achieve that.  Instead the yields have continued onward and downward and are now at 8.8%.