The rate of interest, or yield, on the most closely watched Irish Government bond, which is repayable in 10 years, rose by almost one third of a percentage point.

This rise, which is among the largest registered on a single day, brought the yield to 6.3 per cent by the close of trading. A rising yield indicates investors consider the prospect more risky.

The new peak is almost half a percentage point above the level reached at the height of Europe’s government debt crisis in early May. It also exceeds the previous peak for the past decade, reached in the aftermath of Anglo Irish Bank’s nationalisation in January 2009 – Irish Times