Ireland is at the centre of a European bond storm
A catastrophic earthquake in Japan, military action against Libya and surging oil prices haven't been enough to distract the markets away from Europe's lingering debt crisis.
These big geopolitical events in normal circumstances would fill up the trading screens of share, bond and commodity dealers, but it is Europe's failure to adequately address its own economic challenges that is worrying the markets yet again.
Ireland, yet again, is part of these concerns. Whether the new Government likes it or not, the bond market is guessing that Ireland will have to restructure its debts at some point in the next few years. The method of this restructuring, and its timing, is of huge interest to anyone sitting on an Irish bond portfolio.