"David you mentioned in Friday's Audio that Ireland's bonds were attractive based on its current account surplus - can you explain as I understood there is still a €15BN shortfall between income and expenditure - many thanks for the great service and I particularly enjoy the Friday Audio which I usually listen to in the car over the weekend.

David Fuller's view Thanks for the feedback and I will try to record a steady Audio so that you can remain a steady driver in these turbulent markets.

Re Irish bonds, I was referring to the excellent report by Russell Clark of Horseman Capital Management Ltd, which I quoted on Friday. He knows far more about distressed sovereign debt than I do.


The judgement call for you or any other subscriber to make is: When has all the bad news been fully discounted? The yield and yield-spread charts in the Library will help you in that assessment.