New year's eve train wreck?

Paul Tustain says Dec 31st is a common redemption day for many bonds, and that’s going to hurt a lot of people, maybe.

Yikes. Is that likely to impact the Irish Market directly or indirectly as a result of what happens across the water?

The end of year redemptions effect was the reason why the ECB and Fed dumped $1/2 trillion into the market in December. They wanted to prevent any defaults due to a lack of liquidity. They seem to have largely suceeded in that. Hopefully they will mop up all that liquidity again over the next few weeks to avoid inflation.

All they have done is put a coat of paint on a wall whose foundations are disintegrating, today it hides the cracks, but the foundations are still disintegrating and the crack will appear again in the future, requiring more paint and some pollyfilla. Of course they could repair the foundations but they would have to dig away a whole lot of dirt to get at them first.